By Abbas Nazil
Ghana’s Carbon Market is projected to generate over $1 billion in investments by 2030, according to a recent report by the Carbon Market Office (CMO).
The market is expected to drive economic growth, create employment opportunities, and promote clean energy solutions across the country.
Funds will primarily come from investments in projects aimed at reducing greenhouse gas emissions and revenue from associated fees.
The report highlights that several project developers have proposed three electric-powered mobility initiatives targeting the distribution of 120,160 e-bikes and e-vehicles.
A total of 28 project proposals were reviewed, with 15 focused on nature-based solutions, two on biochar, three on solar energy generation, two on wastewater management, and six on electric vehicle initiatives.
These projects align with Ghana’s broader sustainability goals and commitment to reducing carbon emissions.
Ghana has already signed international carbon trading agreements with Switzerland, Sweden, and Singapore to sell carbon credits.
The Swiss agreement is currently being implemented, while discussions with South Korea and Liechtenstein are ongoing.
These partnerships are expected to further enhance Ghana’s carbon market potential and attract additional investment.
The carbon market is seen as a crucial step in Ghana’s climate action strategy, supporting the transition to cleaner technologies.
It is expected to encourage businesses and individuals to adopt sustainable solutions, such as improved cookstoves and electric vehicles, ultimately contributing to a greener economy and improved environmental conditions in the country.