The Minority Chief Whip is urging former President John Mahama to take decisive action to place Ghana at the forefront of the global carbon credit economy by pursuing high-stakes bilateral agreements with the European Union and the United Arab Emirates.
In a formal letter to the Office of the President, Frank Annoh-Dompreh outlined an ambitious proposal to leverage Ghana’s commitments under the Paris Agreement to unlock up to $1 billion in revenue through verified carbon credit trading.
He argued that strategic engagement with high-demand buyers like the EU and Gulf nations offers a “transformative pathway” to fund climate-smart agriculture, protect biodiversity, and catalyse rural development.
“The time is now for Ghana to assert its leadership in Africa’s carbon economy,” the lawmaker declared, calling on Mahama to adopt the proposal as a key plank of the country’s climate strategy.
Mr Annoh-Dompreh’s proposal hinges on activating Article 6 of the Paris Agreement, which allows countries to trade emissions reductions as part of their nationally determined contributions (NDCs).
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Ghana, he noted, has already updated its NDCs under the Ministry of Environment, Science, Technology and Innovation, reflecting increased ambition to meet climate targets.
“By selling high-quality carbon credits — particularly from nature-based solutions — Ghana can unlock significant revenue streams,” he stated, adding that this would enable direct investments in smallholder farmers and local carbon project developers like Sikafields Technologies.
The EU has committed to slashing greenhouse gas emissions by 90% by 2040, with 3% to be achieved through international carbon credit purchases beginning in 2036.
Meanwhile, the UAE and Saudi Arabia are aggressively investing in voluntary carbon markets, with the Saudi-backed NEOM project seeking over 30 million tons of credits.
“Engaging through bilateral agreements will enhance Ghana’s access to premium carbon markets,” Mr Annoh-Dompreh argued, stressing that this would not only accelerate NDC implementation but also support strategic climate initiatives such as REDD+ and the Ghana Cocoa Forest REDD+ Programme (GCFRP).
He further emphasised that the proposed partnerships would promote climate-smart agriculture beyond cocoa, tapping into crops like oil palm for their carbon sequestration potential and rural economic value.
Urging President Mahama to act swiftly, the Minority Chief Whip concluded: “Ghana must not only participate in the carbon economy — we must help shape it.”