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Two ministries throw weight behind Zoomlion and Swiss government carbon emission trade-off project

Local News

7 months ago
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The Minister for Sanitation and Water Resources, Hon. Dr. Freda Prempeh, and the Minister for Environment, Science, Technology and Innovation, Dr. Kwaku Afriyie have pledge their Ministries' support to ensure that the collaboration between the Swiss government and Zoomlion Ghana Limited in achieving the objectives of the carbon emissions trading framework succeeds.

The Sanitation Minister Hon. Dr. Freda Prempeh, reiterated that her Ministry and the government will continue to create the enabling environment for the private sector to thrive.

"In line with our policy and in the spirit of coorporation and collaboration, I want to assure the Jospong Group that my Ministry is fully dedicated to collaborating closely with them as private sector players along with other key instructions and partners both home and abroad to ensure the success of the initiative"

In the same spirit, the Minister of Environment, Science, Technology and Innovation,  Dr. Kwaku Afriyie,  pledged that "MESTI will ensure that the private sector follows  the requirements, and I want to urge the Jospong Group to strive to spring up at the international level," he challenged.

He explained that MESTI exists to serve an enabler for the various stakeholders to succeed with the right framework.

He added that history shows that only the private sector can help unlock a country's success therefore his ministry will not relent on it's effort to helping the private sector to succeed.

The Swiss Government, in a historic event at the COP 28 in Dubai, signed an authorisation   document conferring the Internationally Transferred Mitigation Outcome (ITMO) credit on the  Integrated Waste Recycling and Compost Facilities of the Jospong Group of Companies.

The granted ITMO status  encompasses four out of the 38 waste treatment plants belonging to Zoomlion Ghana a subsidiary of the Jospong Group, which were selected for the initial phase of the project aiming to generate approximately 1.5 million tons of carbon dioxide valued at USD $20 million from the present until 2030.

ITMO operates within the carbon emissions trading framework, allowing countries to acquire or trade carbon credits internationally.
This mechanism not only facilitates the creation of new carbon markets but also contributes to significant global greenhouse gas emissions reductions and are defined under Article 6 of the Paris Agreement.

According to Dr. Prempeh, Ghana recognises the pivotal role that keeping organic waste out of landfills plays in protecting the environment.

She added that this has been incorporated into Ghana's updated Nationally Determined Contributions (NDCs)- a non-binding national plan highlighting climate change mitigation, including climate-related targets for greenhouse gas emission reductions- reflecting the country's commitments to mitigating climate change.
"Our dedication to this course is underscored by  Ghana's endorsement of the global pledge: an attestment to Ghana's commitment to reducing methane emissions.

"This commitment is not mere rhetoric, it is exemplified by the bold and visionary step taken by President Nana Addo," she stressed.

Dr. Prempeh further explained that Ghana has embarked on several transformational initiatives through public private partnerships and these partnerships have resulted in the construction of 16 large scale integrated waste compost recycling plants  across the country.

When all the projects come on stream, it will divert about 35% of waste from reaching landfill sites.
Ghana generates about 5.3m tones of waste annually with 60% being organic and about 28% constituting recyclable materials such as plastics, metals, glass. etc.

The Sanitation and Water Resources Minister added that these state-of-the-art plants are stretegically designed to reduce emissions, and beyond the environmental impact, also creates  decent jobs for Ghanaians.

She noted that the strategic alignment of the waste treatment plants with climate investment is beginning to attract the needed Foreign Direct Iinvedtments (FDIs) 
which will render these projects commercially viable.

"The infusion of capital from climate cautious investors not only fuel the success of these ventures but also reinforces Ghana's prominence and importance as an attractive destination and sustainable development," she emphasized.

The Executive Chairman of JGC, Dr. Joseph Agyepong, on his part assured that Zoomlion will diligently work around the clock to collect waste from all the corners of the country to ensure that the project succeeds.

He commended the ministries of Sanitation and Water Resources and MESTI, the Evironmental Protection Agency UNDP for their support in achieving this landmark.

source: Theannouncergh.com