Antalya: The carbon market and issuance of carbon credits – how Ghana can benefit
By Alex Adi At COP31 in Antalya, Türkiye, global leaders and climate negotiators are focusing on one of the mechanisms for financing climate action: carbon credits. Under Article 6 of the Paris Agreement, countries can trade emission reductions and removals through international carbon markets. But what exactly is a carbon credit, and how can Ghana […]
COP31 in Antalya, Türkiye, is highlighting carbon credits as a method for financing climate action under the Paris Agreement's Article 6. Carbon credits represent one tonne of CO₂e reduced, avoided, or removed from the atmosphere. For instance, Ghana can protect its forests, convert organic waste into compost, or switch to solar power to generate credits.
These credits can be traded internationally to meet climate commitments or offset emissions. Ghana has a Carbon Market Office and regulations in place, with companies like the Jospong Group's Integrated Recycling and Compost Plants even earning US$20 million in carbon credits by 2030. The country's carbon market offers opportunities for foreign revenue, job creation, cleaner cities, and supporting the energy transition.
However, experts stress the importance of transparency, accountability, and fair benefit-sharing to prevent greenwashing and ensure that communities contributing to environmental protection share in the financial gains.
Written by urgent.news from GBC Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
