Lands Ministry, Tullow Oil sign landmark emissions reductions purchase agreement
The Ministry of Lands and Natural Resources and the Forestry Commission have entered into a groundbreaking Emissions Reductions Purchase Agreement (ERPA) with Tullow, signifying a major stride in the government’s quest to combat deforestation and forest degradation.
The agreement marks a significant leap forward in Ghana’s dedication to sustainable development and environmental conservation. The collaboration aims to foster sustainable land use and forest preservation while generating income for local communities and strengthening Ghana’s efforts to mitigate climate change.
The Minister for Lands and Natural Resources, Mr Samuel A. Jinapor, said the agreement was a “bold and ambitious” attempt that showcased Ghana’s leadership in tackling the global issue of climate change.
He underscored the importance of fair carbon credit pricing, noting that Ghana’s partnership with Tullow sets a new standard for carbon pricing in the region.
“This ERPA is a component of Ghana’s larger initiatives to promote sustainable forest management and curb deforestation and forest degradation,” he said.
He added that the government has made considerable advancements in recent years in fighting climate change, with programmes such as the Ghana Cocoa Forest REDD+ and the Ghana Shea Landscape Emission Reductions Project.
According to the Minister, the partnership with Tullow was expected to generate substantial revenue for local communities and support Ghana’s climate change mitigation efforts.
“The agreement also underscores the country’s commitment to sustainable development and environmental protection, and sets a precedent for other nations to follow,” he added.
The Director for People & Sustainability of Tullow, Madam Julia Ross, elaborated on the project’s scope, stating that over two million hectares of land in Ghana would be utilised for planting various trees and other carbon credit innovations.
She noted that Tullow has made significant investments in the fight against carbon emissions, with over $40 million committed so far and highlighted the socio-economic benefits of the project. She gave the assurance that Tullow would continue to work with the commission and relevant stakeholders to ensure the project’s success.
In a message of solidarity, Her Excellency Harriet Thompson, the British High Commissioner, expressed satisfaction in Ghana’s continued commitment to combating forest degradation and climate change.
She congratulated the team at Tullow and the Forestry Commission for their achievements and encouraged other organisations to follow their example, stating that “doing this is good for the business, good for the climate and good for the people.”
On his part, the Chief Executive Officer of the Forestry Commission, Mr John Allotey, provided further details about the agreement, indicating that it would last for a decade and position the Forestry Commission as a major source of approved and reliable carbon credit.
He explained that the official unveiling ceremony was the culmination of intensive, dedicated and sustained engagements between his organization and Tullow Ghana.
Mr Allotey emphasised the Forestry Commission’s commitment to the production of high-integrity carbon credit in Ghana that would appeal to the international market.
