UK government and development partners host 2023 carbon market development roundtable in Ghana

Building on the success of the Carbon Market Development Roundtable 2022, the UK Government alongside Ghana’s Environmental Protection Agency, Ghana’s Forestry Commission, Foundation for Climate Protection and Carbon Offset (klik) and the Embassy of the Netherlands, have joined together to host ‘Growing the Carbon Market in Ghana - Roundtable and Drinks Reception’ at the Labadi Beach Hotel on Thursday 23^rd March.

Held in the same week as the UN International Day of Forests and the publication of the Intergovernmental Panel on Climate Change (IPCC)’s AR6 Synthesis Report; the roundtable will bring together project developers, traders, verifiers and other sector experts to discuss the progress and ongoing potential of Ghana’s carbon market. Discussion will focus on two key areas for Ghana – progress on cook-stove emissions and the protection of Ghana’s forests.

Speaking ahead of the roundtable, British High Commissioner Harriet Thompson said: "Ghana is embracing and growing its carbon market at time when the world is looking for smart climate finance solutions. This is important as nations come together to work towards ambitious climate commitments ahead of COP28.

‘‘As a long-term partner to Ghana and as a global champion of carbon markets, we are determined to bring together governments, civil society organisations, experts, policy-makers, businesses and investors to realise Ghana’s carbon trading potential. A potential that will create economic opportunities and protect Ghana’s beautiful forests and green spaces.”

Ghana is showing global leadership in the supply and selling of carbon credits under the Paris Agreement’s Article 6 international trade provision. The recently published ‘National Carbon Market Framework’ means that Ghana has one of the most advanced carbon markets across Africa. The Framework has created levies on carbon credit exports, and is supporting the growth of relationships with nations buying carbon credits and opening opportunities with new trading platforms.

Since, the first Carbon Market event, the country has made substantial progress:

• Receiving its first payment through the UN’s Reducing Emissions from Deforestation and Forest Degradation+ scheme (REDD+ scheme);
• Developing Swiss-Ghana collaboration around carbon projects;
• The new framework has seen major businesses developing their plans to invest carbon offset finance in Ghana.

The event will include four focused sessions: an update on Ghana’s carbon market and regulatory framework, a discussion about structuring carbon projects and lessons learned, a session on the forestry sector and a deep-dive into global standards for carbon trading.