Last Friday, on 16.12.2022, the Government of Ghana published the country’s National Article 6 Framework and launched the Carbon Market Office (CMO), in addition to the already existing Ghana Carbon Registry (GCR). These efforts mark a historic milestone. With the legislative framework, Ghana is globally one of the first countries that has adopted the required legal foundation for the transfer of emission reductions under the Paris Agreement’s Article 6 mechanism.
The framework provides much anticipated legal certainty to entities who look to develop GHG mitigation programmes funded through international carbon markets in Ghana. It lays out the full process from application, authorisation, registration, issuance, and transfer of Internationally Transferred Mitigation Outcomes (ITMOs). Furthermore, it provides the necessary templates and formats that applicants must follow when submitting their programme proposals to Ghana’s Carbon Market Office governed by the Environmental Protection Agency (EPA). These documents will serve as the basis for the programme authorisation.
Dr Daniel Tutu Benefoh, an Acting Director of EPA’s Climate Change Unit, highlights the importance of the framework to position Ghana as one of the forerunners to benefit from the emerging carbon markets under the Paris Agreements:
The KliK Foundation congratulates Ghana and the EPA for this important milestone which will set an example for many other countries currently looking to establish the legal rules and procedures to participate in Article 6. It signals to all countries currently hesitant in their Article 6 engagement that Article 6 can be implemented today, and all rules are available.
The KliK Foundation is inviting programme developers, technology providers and investors to leverage the current window of opportunity to develop further ITMO programmes in Ghana. Capable climate protection programmes will be supported by the KliK Foundation through early-stage programme development and through the long-term purchase of resulting emission reductions as ITMOs.