Ghana Paid for Cutting Carbon Emissions in Forest Lands

0

After Mozambique, Ghana is now the second nation in Africa to receive payments from a World Bank trust fund for lowering emissions from deforestation and forest degradation.

Ghana received $4,862,280 from the World Bank’s Forest Carbon Partnership Facility (FCPF) for eliminating 972,456 tons of carbon emissions.

For the purpose of reducing deforestation and forest degradation, Ghana and the World Bank have signed an ERPA. One of the 15 nations to sign ERPAs with the bank.

The second-largest cocoa producer in the world is Ghana, yet one of the major factors contributing to the destruction of forests is deforestation.

Using climate-smart agroforestry techniques, stakeholders are striving to assist about 140,000 Ghanaian farmers in increasing their cocoa yield.

In addition to providing communities with stable income streams, more sustainable cocoa cultivation prevents the growth of cocoa farms into forest regions.

Working together to cut carbon emissions from the cocoa sector are the Ghana Cocoa Board, the World Cocoa Foundation, and significant cocoa and chocolate producers.

Their joint efforts are assisting Ghana in fulfilling its obligations under the Paris Agreement to reduce national emissions.

The benefit sharing arrangement that Ghana’s ERPA with the World Bank is based on reflects the amount of cooperation.

A global cooperation called the Forest Carbon Partnership Facility (FCPF) was created with the goal of lowering emissions caused by deforestation and forest degradation.

Since its founding in 2008, the FCPF has collaborated with 47 developing nations in Asia, Africa, Latin America, and the Caribbean. A total of $1.3 billion in gifts and commitments from 17 donors.

Leave a Reply

Your email address will not be published. Required fields are marked *