- Ghana signs historic Emissions Reduction Purchase Agreement (ERPA) with Tullow Oil Plc.
- Partnership aims to promote sustainable land use and forest conservation.
- Tullow to plant trees and invest $40 million in zero carbon emissions.
- Ghana sets new benchmark for carbon pricing in the region.
The Ministry of Lands and Natural Resources and the Forestry Commission have signed a historic Emissions Reduction Purchase Agreement (ERPA) with Tullow Oil Plc, marking a significant milestone in Ghana’s efforts to address deforestation and forest degradation. The agreement, which was signed at a ceremony in Accra, represents a major step forward in Ghana’s commitment to sustainable development and environmental stewardship.
The partnership aims to promote sustainable land use and forest conservation, while generating revenue for local communities and supporting Ghana’s climate change mitigation efforts. According to Mr. Samuel A. Jinapor, MP, Minister for Lands and Natural Resources, the agreement is a “bold and ambitious” initiative that demonstrates Ghana’s leadership in addressing the global challenge of climate change.
The Minister emphasized the importance of fair pricing of carbon credits, noting that Ghana’s partnership with Tullow sets a new benchmark for carbon pricing in the region. The ERPA is part of Ghana’s broader efforts to promote sustainable forest management and reduce deforestation and forest degradation.
Ghana has made significant progress in recent years, with initiatives such as the Ghana Cocoa Forest REDD+ Programme and the Ghana Shea Landscape Emission Reductions Project. The partnership with Tullow is expected to generate significant revenue for local communities and support Ghana’s climate change mitigation efforts.
The agreement also demonstrates the country’s commitment to sustainable development and environmental protection, and sets an example for other countries to follow. Madam Julia Ross, the Director for People & Sustainability at Tullow, explained that the project will involve the planting of various trees and other carbon credit innovations on over two million hectares of land in the country.
Tullow has made significant investments in the fight towards zero carbon emissions, with over $40 million committed so far. The project is expected to have numerous socio-economic benefits, and Tullow will continue to engage with the Forestry Commission and relevant stakeholders to ensure its success.
In her solidarity statement, Ms. Harriet Thompson, the British High Commissioner, praised Ghana for its dedication to curtailing forest degradation and mitigating climate change. She noted that the British Government sees this as just the beginning of many more successes, and encouraged other organizations to follow Tullow’s example.
Mr. John Allotey, the Chief Executive Officer of the Forestry Commission, provided further details about the agreement, indicating that it will span a decade and position the Forestry Commission as a major source of approved and reliable carbon credit. He emphasized the Commission’s commitment to producing high-integrity carbon credit that will be appealing to the international market.
The Deputy Minister for Energy and Member of Parliament for Mpohor Constituency, Mr. John Kwabena Abbam Aboah Sanie, commended the partners for their efforts in reaching this milestone and hoped that the Forestry Commission & Tullow REDD+ Project will yield the highest results. Traditional authorities and civil societies also congratulated the partners on their efforts to materialize this worthy cause.
The signing of the ERPA marks a significant step forward in Ghana’s efforts to address climate change and promote sustainable development. The partnership between the Forestry Commission and Tullow is expected to have a positive impact on local communities and the environment, and sets an example for other countries to follow.
