Ghana: Businesses advised to utilize the carbon market to generate more revenue

The Deputy Executive Coordinator for Strategic Youth Network for Development (SYND), Mr. Solomon Yamoah has advised Ghanaian businesses to tap into the carbon market as a means to increase revenue for development.

The carbon market enables the buying and selling of carbon credits, offering opportunities for organizations to offset their greenhouse gas emissions by supporting projects that reduce or eliminate carbon dioxide from the atmosphere.

Mr. Yamoah emphasized that the carbon market is becoming a valuable asset, particularly for African countries, and businesses should adopt innovative approaches to capitalize on global trends like carbon finance.

At a capacity-building workshop on Youth Participation in the Ghana Cocoa Forest REDD+ program, Yamoah highlighted the green sector’s employment prospects for young people and encouraged them to explore opportunities in the climate space related to carbon emission.

The workshop, organized by SYND in collaboration with the Forestry Commission of Ghana, aimed to empower young individuals to engage in this field and benefit from the carbon market’s potential.

Roselyn Fosuah Adjei, the Director for Climate Change at Ghana’s Forestry Commission, explained the importance of the GCFRP and REDD+ in curbing carbon emissions resulting from cocoa expansion into forests and promoting climate-smart cocoa production.

She also stressed the significance of REDD+ for Ghana’s agriculture sector, emphasizing its potential to enhance climate resilience, secure rural livelihoods, and create additional revenue sources for the country.