Second official visit by Singapore delegation to Ghana from 02-03-2023 to 04-03-2023

A delegation from the Government of Singapore visited Ghana from 2nd to 4th March 2023 as part of the carbon market engagement between Ghana and Singapore. The purpose of the visit was to conclude on the Implementation Agreement between Ghana and Singapore under Article 6.2 of the Paris Agreement and also to have discussions with government stakeholders and private business to harness the opportunities and entry point on carbon market in Ghana.

The Governments of Ghana and Singapore have been engaged in negotiations since 2021 for cooperations in Ghana carbon market. Prior to the recent visit, the Singapore team had visited Ghana in April 2022 after it had exchanged Letter of Intent with Ghana. This was followed with extensive discussions and development of a clearer road map to pave way for actual implementation of carbon market.

During the visit, the team paid a courtesy call on the Minister of Environment, Science, Technology and Innovation (MESTI), Hon. Dr. Kwaku Afriyie, who welcomed the Singaporeans and assured the team of his commitment towards the conclusion, approval and ratification of the implementation Agreement by Cabinet and Parliament respectively.

The team also met with the Executive Director of the Environmental Protection Agency, Hon. Dr. Henry Kwabena Kokofu.

Dr. Kokofu informed the team of his support on the finalization, approval and actual implementation of mitigation activities. He indicated the transformative nature of this agreement as it will inure to the development of local communities and livelihoods of people. The 7- member team had discussions with state and non-state actors on investments and activity development opportunities for local businesses as well as opportunities for carbon market projects. Some of the companies made presentations on their mitigation activity projects that has the potential to unlock green investment.

The next steps for the Singapore team and Ghana to undertake are:

The Implementation Agreement to be concluded and signed by June 2023.
Ghana to be invited to the upcoming Singapore-Africa Business Forum in Singapore in August 2023.
Development of pipeline of projects.