(VIDEO) Ghana Receives $21.7 Million in REDD+ Carbon Payments, Lands Minister Reveals
Lands Minister Emmanuel Armah-Kofi Buah reveals Ghana has secured over $21.7 million in World Bank carbon credits under the Cocoa Forest REDD+ initiative.
Ghana has received $21.75 million in results-based payments under the Ghana Cocoa Forest REDD+ Programme, Minister for Lands and Natural Resources Emmanuel Armah-Kofi Buah disclosed in Parliament on Tuesday.
The initiative, implemented under the World Bank’s Forest Carbon Partnership Facility (FCPF) Carbon Fund, is projected to yield up to $50 million in total carbon credits for emissions reductions achieved between 2019 and 2024.
Answering questions on the floor of the House, Hon. Buah explained that payments are disbursed only after monitoring reports undergo independent third-party verification arranged by the World Bank.
“Mr. Speaker, so far Ghana has developed the first two monitoring reports and received payments,” Hon. Buah stated.
Revenue Breakdown and Future Disbursements
The Minister provided a detailed breakdown of the funds received to date across the verified monitoring periods:
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2019 Tranche: $4 million for initial emission reductions.
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2020–2021 Tranche: $16 million following verified forest conservation efforts.
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Total Disbursed: $21,758,000 in carbon finance revenue.
Hon. Buah added that the Forestry Commission has submitted the third monitoring report covering the 2022–2023 period. That report is currently undergoing third-party validation, which is expected to unlock further disbursements upon completion.
From Martin Kwabena Ahwireng Quaye
