Dr Glenn Kwabena Gyimah, General Manager of the Jospong Green Transition Office, has emphasised the need for stronger collaboration between governments and the private sector to ensure that carbon markets evolve into effective instruments for sustainable national development.
Speaking during a World Climate Foundation panel discussion on the sidelines of the COP30 Brasil Amazonia, Belém Climate Summit, he highlighted how the company had leveraged Ghana’s Article 6 framework to drive environmental and social impact.
A release copied to the Ghana News Agency said the clarity provided by Ghana’s Carbon Market Office and the National Authorisation Framework had transformed carbon markets from abstract policy discussions into viable private sector opportunities.
Providing an update on progress since 2024, the Jospong Group demonstrated how Ghana’s private sector was transitioning from carbon market readiness to “tangible climate action”.
Dr Gyimah explained that the company had successfully integrated its project portfolios into Ghana’s National Carbon Registry, making its composting, landfill gas recovery and clean cooking initiatives among the first to be officially recorded in the national system.
He noted that the Group’s engagement went beyond generating carbon credits. For the company, participation in carbon markets represented “a fundamental redefinition of the private sector’s role in national development.” Each tonne of carbon mitigated, he said, had to contribute to a social story – supporting green jobs, improving agricultural yields through organic fertilisers and enhancing urban air quality.
Dr Gyimah acknowledged the initial challenges the company faced, including complex Monitoring, Reporting and Verification (MRV) protocols and high verification costs.
Through sustained public–private dialogue, however, workable solutions had been developed that maintained both environmental integrity and investment viability.
He outlined four emerging models shaping Ghana’s carbon market landscape, emphasising the importance of community engagement.
He said the Group’s community benefit-sharing model ensured that revenue from carbon credits was reinvested in local development initiatives such as school improvements, clean water systems and reforestation projects.
According to the United Nations Framework Convention on Climate Change (UNFCCC), carbon markets are mechanisms that allow countries, companies or institutions to trade carbon credits generated from verified emission-reduction activities.
They are designed to help reduce global greenhouse gas emissions in a cost-effective manner by assigning an economic value to emission reductions.
The World Bank notes that carbon markets are relevant because they mobilise climate finance, create incentives for low-carbon investments and support developing countries to meet national climate commitments while delivering social and economic co-benefits.
Such benefits include clean energy expansion, job creation, sustainable waste management and community resilience.
Dr Gyimah said the Group’s experience demonstrated that when government and business worked in synchronisation, carbon markets became more than transactional platforms. Instead, they served as powerful tools for sustainable national development and green economic transformation.
Source: GNA
Source: ghanabusinessnews.com
