The United Kingdom and Ghana have held a Carbon Market Development Roundtable in Accra to review and improve the current climate finance regulations, and the market, and to support the growth of new networks of experts.
A statement issued by the British High Commission in Accra and copied to the Ghana News Agency said the event brought together generators, traders, verifiers and other professionals to make the climate finance market successful in Ghana.
It said the Carbon Market Development Roundtable would bring the carbon market community together to understand existing and proposed market regulations; create new opportunities for investment and collaboration and grow the network of experts working on carbon market development.
It said Ghana had already taken important steps towards developing carbon markets as a climate finance opportunity.
It noted that Ghana’s Environmental Protection Agency (EPA) had drafted a new National Framework to govern and support carbon markets while projects to generate carbon credits in Ghana were under development.
It said the British High Commission recognised the importance of these developments and was working to bring the right people together to help the market grow.
The statement said the Carbon Market Development Roundtable would assess and interrogate key information and policies and generate recommendations for building Ghana’s carbon market.
It noted that the roundtable would then be followed by a networking event hosted by High Commissioner Harriet Thompson and key policy officials from the British High Commission.
Speaking ahead of the workshop, Madam Harriet Thompson, the British High Commissioner in Accra, said the benefits of carbon markets are two-fold: “they bring finance, and they bring protection. Ghana’s beautiful forests and green spaces put the country in a prime position to benefit from a well-functioning carbon market.
“Our event today has brought together the right people from across the industry, civil society, government and business to focus on getting Ghana access to the world’s growing carbon markets.
“Together we are making sure that Ghana gets the right investment now to protect the country’s vital natural resources for generations to come.”
The statement said the organisers hope the whole event would grow the understanding and support for Ghana’s carbon market, promote discussion and adoption of the Environmental Protection Agency’s National Framework, work through the possible challenges faced by the international carbon market; and highlight Ghana’s achievements, potential and priorities in carbon market development.
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