News Desk Report
Accra, Ghana – Daniel Tutu Benefoh, Acting Director at the Climate Change Unit of the Environmental Protection Agency (EPA), has shared the Q1 2026 scorecard of Ghana’s Carbon Market Office (CMO) on his LinkedIn page, highlighting the country’s advancements in environmental markets, transparency, and decarbonisation technologies.
According to Benefoh, the CMO has made significant strides in Ghana’s carbon market development. The office has drafted the 2026 carbon market regulation, a crucial step towards establishing a robust framework for carbon trading and climate finance.
Additionally, the CMO has completed the final versions of NDC 1.2 and NDC 2.0, which outline Ghana’s Nationally Determined Contributions to reducing greenhouse gas emissions.
According to Dr. Benefoh who also leads Ghana’s Carbon Market Office (CMO) revealed that, CMO also hosted a successful carbon finance masterclass, bringing together over 40 participants from banks, universities, the private sector, auditors, civil society, and government agencies. This event aimed to build capacity and promote understanding of carbon markets and climate finance.
Furthermore, the CMO has granted authorisations for 11.3 MtCO2e ITMOS (Internationally Transferred Mitigation Outcomes), supporting 11 Article 6 projects that utilise innovative technologies such as compost, biomass stoves, e-stoves, AWD rice, e-bikes, solar PV, green air conditioners, and biogas systems. This represents about 47.1% of Ghana’s Article 6 budget for international transfer up to 2030.
Ghana has also signed a climate cooperation agreement with South Korea, focusing on mitigation, adaptation, Article 6, technology transfer, capacity building, and climate services. This partnership is expected to enhance Ghana’s climate resilience and support its transition to a low-carbon economy.
The Country’s Focal Person for the United Nations Framework Convention on Climate Change (UNFCCC) further indicated that, Article 6 project pipeline has grown to 134 projects, covering bilateral deals, CORSIA (Carbon Offsetting and Reduction Scheme for International Aviation), and voluntary markets. The CMO has also updated global default fNRB (fraction of non-renewable biomass) values for biomass projects in Ghana, ensuring that the country’s carbon credits are accurately accounted for.
Looking ahead to Q2 2026, the CMO aims to participate in FMCP1 (First Meeting of the Conference of the Parties serving as the meeting of the Parties to the Paris Agreement) of BTR1 (Biennial Transparency Report 1) under the UNFCCC (United Nations Framework Convention on Climate Change).
The office will also prepare Ghana’s BTR2 and 2026 annual information, secure additional authorisations and transfer ITMOs, and publish Ghana’s VVB (Validation, Verification, and Beneficiary) performance and compliance scores.
Other priorities for Q2 2026 include launching Ghana’s GHG Mitigation Ambition Fund, developing a comprehensive investor guide for Ghana’s carbon market in collaboration with the Ghana Investment Promotion Centre, and conducting an ex-ante assessment of the socio-economic impacts of Ghana’s carbon market project pipeline.
The CMO also plans to undertake a study on the effects of political, investment, and implementation risks on ITMO delivery schedules of carbon market projects in Ghana.
The CMO’s progress demonstrates Ghana’s commitment to decarbonisation and environmental sustainability, positioning the country as a leader in Africa’s climate action agenda.
Source: www.climatewatchonline.com
