Ghana risks being shortchanged in carbon credit deal – Annoh-Dompreh

Minority Chief Whip Frank Annoh-Dompreh has urged the government to negotiate better prices under Ghana’s proposed carbon credit agreement, warning that the country risks undervaluing its environmental resources.

Speaking in Parliament on Wednesday, the Nsawam-Adoagyiri MP questioned a proposed pricing range of US$5 to US$25 per tonne. He contrasted this with what he described as a global average of about US$40 per tonne.

He called on 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, Mr Annoh-Dompreh said the pricing gap warranted closer scrutiny. He argued that Ghana’s participation in international climate cooperation should help it secure stronger commercial terms.

While supporting the agreement’s broader objectives, he cautioned against rushing the financial arrangements at the expense of the country’s long-term interests.

The MP acknowledged Ghana’s progress in carbon market cooperation. He cited agreements with Switzerland, Sweden and Singapore, as well as the proposed arrangement with South Korea.

He said such partnerships must remain consistent with Ghana’s Nationally Determined Contributions and its commitments under international climate frameworks.

Annoh-Dompreh also welcomed provisions linked to the Paris Agreement, particularly opportunities to strengthen capacity and improve environmental management.

Beyond pricing, he called for the proposed recovery of methane from landfill sites to cover more facilities across the country.

He urged the minister to look beyond the Poon landfill site identified in the report. He cited the landfill at Sumia in his constituency, where he said harmful leachate was destroying plant and animal life.

Including more sites, he argued, could help Ghana tackle pollution while generating value through methane recovery and carbon credits.

He stressed that the arrangements should deliver practical benefits to affected communities, alongside their commercial and climate objectives.

Annoh-Dompreh also pressed the government to bring its carbon credit agreement with British Petroleum (BP) before Parliament.

According to him, negotiations had been concluded and the terms reviewed by the Attorney-General. He urged the minister to submit the agreement before the House rose, if the remaining processes could be completed in time.

Despite his concerns, the Minority Chief Whip encouraged MPs to support the committee’s report and the agreement. He maintained, however, that securing fair prices and addressing local environmental problems must remain priorities.