Ghana Carbon Market Office build expertise to boost carbon trading

Ghana has launched its first-ever national masterclass on carbon markets to build local expertise and position the country to benefit fully from the rapidly growing global carbon trading industry.

The first in a series of five will expose participants to topics including counting carbon emissions, carbon pricing, designing carbon projects and certification, carbon registry operations and financing project.

Professor Nana Ama Browne Klutse, Chief Executive Officer of the Environmental Protection Agency (EPA), said the global surge in carbon market activity presented the country with a major opportunity to unlock revenue, attract renewable energy technologies and improve livelihoods, especially among vulnerable groups.

“The carbon market is trending worldwide, and Ghana has a huge carbon credit potential we can trade for money and for renewable energy technologies that will help the country and its citizens,” she said.

The training, which was organised by the Ghana Carbon Market Office under the EPA, bought together participants from private companies, energy institutions, technology firms and environmental sectors to learn the fundamentals of carbon credit generation, accreditation and trading.

Prof. Klutse noted that Ghana had already set up a Carbon Market Office and gained practical experience in transferring its first Authorised Emission Reductions (ITMOs) to Switzerland under Article Six of the Paris Agreement.

The training was designed to expand national capacity by equipping institutions and individuals with the technical skills required to participate effectively in carbon accreditation processes.

“Carbon credits are not like tomatoes you take to the market; they go through several accreditation steps. This training helps us to build those skills so Ghana can maintain its credibility internationally,” the CEO said.

 Ghana’s carbon credit potential spanned forests, waste management and renewable energy projects, she noted, but warned that illegal mining continued to degrade forest reserves and threaten the country’s credit base.

Dr Daniel Tutu Benefoh, Lead of the Ghana Carbon Market Office, said the masterclass sought to enhance local participation and ensure Ghanaian experts were positioned to serve the growing carbon market sector.

“This training is to equip Ghanaians to be part of the carbon markets economy by providing services to project developers and private sector actors,” he said.

He revealed that an assessment of 12 carbon projects showed Ghana could generate about US$500 million in economic benefits over the next five years through unlocked investments, government revenues and job creation.

“At the individual level, people can also gain employment and incomes by participating in carbon trading processes,” he added.

Dr. Benefoh acknowledged that the sector had faced challenges, including limited local expertise, inadequate engagement from financial institutions, and a lack of comprehensive policy frameworks, but the gaps had been addressed through the Ghana Carbon Market Framework, capacity-building initiatives and active involvement of more than 100 private-sector-led projects.

Dr. Benefoh explained that carbon trading involved monetising emission reductions from climate-friendly projects and exchanging them for payment, helping countries accelerate their energy transition.

“For example, if electric vehicles are expensive, carbon credits can reduce the financial barrier and make such investments possible,” he said.

“Climate change is not just a risk; it is also an opportunity. We must maximise both.”

Participants in the first cohort include companies from the cement, tree crop, technology and manufacturing sectors.

The masterclass is structured into foundation and advanced levels, with additional cohorts planned for next year.

The Carbon Market Office also plans to collaborate with universities and technical institutions to mainstream carbon market training into academic programmes to build long-term skills.

Ghana continues to attract attention from other African countries seeking to learn from its carbon market framework, with delegations from Tanzania, Malawi, Uganda and Namibia already engaging the Carbon Market Office.

The ultimate objective is to help build an African carbon market of high integrity.

“This commodity is intangible and thrives on perception and credibility. We want Africa to have a market that meets the highest standards,” Dr Benefoh said.

Source: GNA

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