Ghana should cash in on Climate Change Business Opportunities-Banker

Ghana should cash in on Climate Change Business Opportunities-Banker

November 22, 2009
Speaking on the topic: "Business Opportunities from the Climate Change Agenda," in Accra at the weekend, Mr. Yves Coffi, Group Head of Wholesales Banking of Ecobank Transnational Incorporated, said the country could benefit from climate change by identifying and exploring business opportunities that involve the reduction of carbon emissions.

He made the presentation, at a seminar organised by the Ministry of Environment, Science and Technology, in collaboration with the World Bank for the private sector in Accra.

He said in the field of telecommunication, the telecom service providers should consider powering their transmitters with solar energy instead of diesel powered generators to bring reliable services and save operational cost.

Mr Coffi said there were financial mechanisms under the Kyoto Protocol, which Ghana, as a signatory could access to promote low carbon emission for economic development.

He said carbon trading was a term used to describe a trading approach where Greenhouse gas (GHG) emissions were capped and then markets were used to allocate the emissions among the group of regulated sources.

He said since GHG mitigation projects generated credits, this approach could be used to finance carbon reduction schemes among trading partners around the world.

Mr Coffi said prospective project developers needed to understand the project development and financing modality for carbon credit eligibility.

GNA