Ghana urged to renegotiate low carbon credit prices

Minority Chief Whip Frank Annoh-Dompreh has urged the government to renegotiate the terms of Ghana's proposed carbon credit agreement. Speaking in Parliament on Wednesday, the Nsawam-Adoagyiri MP questioned a pricing range of US$5 to US$25 per tonne, which he set against a global average of about US$40 per tonne. He asked the sector minister and negotiating authorities to review the financial terms before Ghana commits to the arrangement.

Referring to page eight, paragraph 5.6 of the committee's report, he said the pricing gap warranted closer scrutiny. He acknowledged Ghana's carbon market agreements with Switzerland, Sweden and Singapore, and the proposed arrangement with South Korea, saying such partnerships must stay consistent with Ghana's Nationally Determined Contributions. He also called for methane recovery from landfill sites to cover more facilities, citing harmful leachate at the Sumia landfill in his constituency.

He pressed the government to bring its carbon credit agreement with British Petroleum (BP) before Parliament, saying negotiations had concluded and the Attorney-General had reviewed the terms. He urged the minister to submit it before the House rose, if time allowed. Despite his concerns, he encouraged MPs to support the committee's report and the agreement, while maintaining that fair prices and local environmental problems must remain priorities.

Why it mattersCommunities near landfill sites such as Sumia, where leachate is destroying plant and animal life, would be affected by any expansion of methane recovery.

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