Ghana risks being shortchanged in carbon credit deal – Annoh-Dompreh

Minority Chief Whip Frank Annoh-Dompreh has expressed concerns over Ghana's proposed carbon credit agreement, warning that the country may undervalue its environmental resources. Speaking in Parliament, Annoh-Dompreh questioned a proposed price range of US$5 to US$25 per tonne of carbon, which he believes falls short of the global average of about US$40 per tonne.

He urged the government to review the financial terms before finalizing the agreement, emphasizing that Ghana's participation in international climate cooperation should secure better commercial terms. While supporting the agreement's broader objectives, Annoh-Dompreh cautioned against rushing financial arrangements at the expense of Ghana's long-term interests.

The MP highlighted Ghana's existing partnerships with Switzerland, Sweden, Singapore, and South Korea, stressing that these should be consistent with the country's Nationally Determined Contributions and international climate commitments. He also called for the recovery of methane from landfill sites to cover more facilities across the country, citing the Sumia landfill in his constituency as an example where harmful leachate is damaging the environment.

Annoh-Dompreh urged the Minister to bring the carbon credit agreement with British Petroleum (BP) before Parliament, emphasizing that the agreement's financial terms should be fair and address local environmental problems. Despite his concerns, Annoh-Dompreh encouraged MPs to support the committee's report and the agreement, maintaining that securing fair prices and addressing local environmental issues must remain priorities.