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Green Tax Youth Africa Condemns Proposal to Fund MPs’ Pensions with Carbon Credit Revenues

6 months ago
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Green Tax Youth Africa Condemns Proposal to Fund MPs’ Pensions with Carbon Credit Revenues

The Green Tax Youth Africa (GTYA) has denounced a motion put forward by Ghana’s Majority Leader, Mahama Ayariga, proposing that carbon credit revenues be used to finance pensions for retired parliamentarians.

The advocacy group argues that such a move undermines the fundamental objectives of climate financing and sets a dangerous precedent in public fund allocation.

In a statement issued by its Executive Director, Nii Addo, GTYA criticized the proposal as “a blatant misdirection of resources meant for environmental sustainability.” The organization insists that carbon credit revenues should be channelled into green projects, not financial benefits for political officeholders.

Misuse of Carbon Credit Revenues

GTYA argues that carbon credits exist to mitigate climate change by funding renewable energy projects and carbon offset schemes. Redirecting these resources to sustain a pension scheme for former MPs contradicts global best practices and threatens the integrity of Ghana’s environmental commitments.

“Carbon financing is not a discretionary fund for political expenditure,” the statement asserts. “These revenues should be dedicated to climate resilience and sustainability initiatives.”

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Systemic Pension Inequality

The group highlights systemic inequities in Ghana’s pension system, where only a fraction of high-income earners benefit from retirement schemes, while most informal workers face financial insecurity post-retirement. GTYA calls on policymakers to pursue broad pension reforms rather than privileging retired MPs.

“Ghana’s pension structure remains exclusionary,” GTYA said. “If pension reform is necessary, it must address inequalities for all workers, not just a select few in government.”

Existing Provisions for MPs’ Retirement Benefits

GTYA also refutes the claim that former MPs require additional pension security. Articles 98 and 114 of the 1992 Constitution already guarantee pension benefits for MPs, ensuring they receive substantial financial support after their tenure. Any additional scheme, it argues, would be redundant and fiscally imprudent.

“The state already provides for MPs in retirement,” GTYA noted. “Creating another pension scheme solely for them amounts to financial overreach at the expense of national development.”

GTYA’s Policy Recommendations

Rather than implementing the proposed pension scheme, GTYA offers the following recommendations:

Internal Welfare Mechanism – Parliament should establish an internal support fund for struggling former MPs without diverting national or development funds.

Comprehensive Pension Reform – Policymakers should address systemic gaps in the pension sector, ensuring equitable access to retirement benefits for all citizens.

Strengthened Green Finance Regulations – Ghana’s Green Bond Guidelines should be reviewed to ensure carbon credit revenues are strictly allocated to environmental initiatives.

Community-Focused Climate Investment – Proceeds from carbon credits should be used to fund adaptation and resilience projects benefiting vulnerable communities.

Adoption of Best Practices – Ghana should study models like the European Green Deal to ensure sustainable fund allocation.

The GTYA reaffirmed its commitment to economic inclusivity and environmental sustainability, urging all stakeholders to reject the pension proposal and demand greater accountability in the management of carbon credit revenues.

Tags: Green Tax Youth AfricaGreen Tax Youth Africa Condemns Proposal to Fund MPs’ Pensions with Carbon Credit Revenues

Comments 1

  1. Eric says:
    6 months ago

    There are very important areas of climate change mitigation and adaptation that we have to apply this monies to. A significant amount came in to the country but we did not benefit from its application.

    Reply

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