Gov’t & Tullow Sign Landmark Emissions Reductions Purchase Agreement

The Ministry of Lands and Natural Resources and the Forestry Commission have signed a historic Emissions Reductions Purchase Agreement (ERPA) with Tullow, marking a significant milestone in Ghana’s efforts to address deforestation and forest degradation.

The ERPA is part of Ghana’s broader efforts to promote sustainable forest management and reduce deforestation and forest degradation.

The agreement, outdoored at a ceremony in Accra on Thursday, May 23, 2024 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.

Bold & ambitious
The Minister for Lands and Natural Resources, Samuel A. Jinapor, hailed the agreement as a “bold and ambitious” initiative that demonstrates Ghana’s leadership in addressing the global challenge of climate change. He emphasised 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.

He said, the country 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.

Benefits
The partnership with Tullow is expected to generate significant revenue for local communities and support Ghana’s climate change mitigation efforts.

Besides, the agreement demonstrates the country’s commitment to sustainable development and environmental protection, and sets an example for other countries to follow.

Scope
For her part, the Director for People and Sustainability, Tullow, Julia Ross elucidated on the scope of the project indicating that over two million hectares of land in the country will be used to plant various trees and other carbon credit innovations.

She stated that Tullow has over the years made significant investments in the fight towards zero carbon emissions with over $40million committed so far.

Dedication
In her solidarity statement, the British High Commissioner, Harriet Thompson said she is proud of Ghana as it continues to show dedication to curtailing forest degradation and mitigating climate change. She noted that with Ghana’s enthusiasm, the British Government sees this as just the begin to many more successes.