Gov’t & Tullow Sign Landmark Emissions Reductions Purchase Agreement | Business News

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

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

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

The country he said has made significant progress in recent years, with initiatives such as the Ghana Cocoa Forest REDD+ Program and the Ghana Shea Landscape Emission Reductions Project.

The partnership with Tullow is expected to generate significant revenue for local communities and support Ghana’s climate change mitigation efforts. The agreement also demonstrates the country’s commitment to sustainable development and environmental protection, and sets an example for other countries to follow.

On her part, Madam Julia Ross, the Director for People & Sustainability, Tullow 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.

She outlined the socio-economic benefits of the project and explained that Tullow will continue to engage the commission and relevant stakeholders to ensure the success of the project.

In her Solidarity statement, Her Excellency Harriet Thompson, the British High Commissioner 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.

She congratulated the team at Tullow and the Forestry Commission for the height achieved and encouraged other organisations to follow this example as she said “doing this is good for the business, good for the Climate and good for the people”

Mr John Allotey, the Chief Executive Officer of the Forestry Commission provided further details about the agreement, indicating that it will span a decade and position the Forestry Commission as a major source of approved and reliable carbon credit.

He explained that the official announcement is the crowning moment of intensive, dedicated and sustained engagements between his outfit and Tullow Ghana.

He also emphasized the commitment of the Forestry Commission to the production of high integrity carbon credit that will be appealing to the international market.

The Deputy Minister for Energy and Member of Parliament for Mpohor Constituency of the Western Region, Hon. John Kwabena Abbam Aboah Sanie on behalf of his Minster commended the Outdooring partners; Forestry Commission and Tullow for their efforts in reaching such a height and hoped that this Forestry Commission & Tullow REDD+ Project will yield the highest results.

There were also some congratulatory statements from traditional authorities and civil societies who were present at the programme all geared towards applauding Forestry Commission and Tullow for their efforts in materialising this worthy cause.