Ghana has mounted an exhibition at the ongoing Climate Change conference in Paris, France to showcase some of the projects and programmes the country has been involved in.
An Assistant Director at the Ministry of Environment, Science, Technology, and Innovation, Mr Mohammed Gyimah has been explaining to visitors Ghana’s progress in the climate change campaign.
Currently, the country is involved in REDD+, which seeks to help recover lost forests in the Ashanti, Western, and Eastern regions.
Also, the Accra Compost, owned by Zoomlion Ghana Limited, is the one of the flagship projects for climate change in Ghana.
Zoomlion is also exhibiting at the Ghana stand. The Head of Research at Zoomlion Ghana Limited, Dr George Rockson told Graphic Online that the ACARP is the first registered Clean Development Mechanism (CDM) project in Ghana.
However, the CDM project, which was expected to reduce carbon emission needed for the climate change fight has suffered a major upset due to the significant fall in trading price.
At the time of the project in 2010, the Carbon Credit was traded at $12 per ton as against the current less than $0.50 cent per ton.
According to Dr Rockson, this is a major setback explaining that the drastic fall will negatively affect the payback time of projects under the CDM expecting cash flows from the carbon credit.
He said African leaders should influence negotiations into this and other mitigation projects that require huge funding hinged on carbon trading.