Jospong Group signs MoU for carbon credits development

The Jospong Group of Companies, last Tuesday, signed a memorandum of understanding (MoU) with EKI Energy Services, an Indian firm, for carbon credits development.

The five-year collaboration between the two entities is to generate $ 1 billion and result in the employment of about 1,000 people.

The Chief Executive Officer (CEO) of the Jospong Group, Joseph Siaw Agyepong, signed for his company while the CEO of EKI Energy, Manish Dabkara, initialed for the firm.

Signing

The signing ceremony took place alongside the annual Jospong Leadership Conference at Gomoa Fetteh in the Central Region.

Present at the signing was the CEO of the Environmental Protection Agency, Dr Henry Kokofu.

Support

At the event, Mr Agyepong charged all staff of the group to put their energies into the MoU, adding that there were about 170 areas through which they could go to the carbon market.

He said irrespective of where they were in the country, they could go into afforestation.

The CEO of JGC said with the MoU, EKI Energy would work with the Jospong Group, and help generate revenue from the company’s non-core business.

Mr Agyepong said the company would launch a scholarship scheme for people who wanted to pursue climate change courses.

“So, if you want to apply to pursue climate courses, Jospong would offer 10 scholarships,” he said.

He said the company wanted to be one of the leading companies working to address climate issues.

Advisory

Mr Dabkara, for his part, said his organisation provided advisory and technical services for projects’ eligibility for carbon credits.

He said the initiative would also attract investment from international carbon financial institutions.

Moreover, the two firms would undertake joint investments in the international carbon markets.

In addition, EKI would provide advisory services for the registration and verification of projects within Ghana and Africa as a whole.

Value

Mr Dabkara said the top vision of the initiative was to mobilise $ 1 billion, with the help of carbon finance by the year 2030.

He said the firm had good technical expertise to execute the project right from installation.

Mr Dabkara said the collaboration between the two companies would be a perfect match for the execution of the MoU.