World Bank rewards Ghana for carbon emission reductions
Ghana has become the second African nation to receive payments from the World Bank’s Forest Carbon Partnership Facility (FCPF) for reducing emissions from deforestation and forest degradation.
The FCPF paid Ghana roughly $4.86m for reducing 972,456 tonnes of carbon emissions during the first monitoring period under the program, which ran from June to December 2019.
Ghana is one of 15 countries that have signed Emission Reductions Payment Agreements (ERPAs) with the World Bank.
These efforts are focused on a six-million-hectare stretch of the West Africa Guinean Forest, which is under pressure from cocoa farming, unsustainable harvesting and small-scale mining.
The FCPF is a global partnership of governments, businesses, civil society and indigenous peoples’ organisations working towards reducing emissions from deforestation and forest degradation, conserving forest carbon stocks and promoting sustainable forest management in developing countries.
Since its launch in 2008, the FCPF has collaborated with 47 developing countries across Africa, Asia and Latin America and the Caribbean, along with 17 donors that have made contributions and commitments totaling $1.3bn.
