EPA urges young entrepreneurs to dive into carbon market opportunities

The Environmental Protection Agency (EPA) is calling on young entrepreneurs to seize the opportunities within the burgeoning carbon market.

In a recent interview with Asaase News, EPA executive director John Kingsley Krugu emphasised the agency’s commitment to supporting the next generation in both environmental protection and wealth creation through what has been described as an innovative market system.

The carbon market is a system that allows businesses and governments to buy and sell credits representing a reduction of greenhouse gases.

This market aims to incentivise emissions reductions by putting a price on carbon, thereby creating financial motivation for entities to reduce their carbon footprints. By participating in this market, stakeholders can contribute to global efforts to combat climate change while also potentially generating economic benefits.

As the host of Ghana’s Carbon Registry, the EPA is well-positioned to assist interested youth in developing Carbon Market Development Plans. Krugu highlighted the urgent need for a robust Carbon Market framework, given the undeniable impacts of climate change and climate variability. He noted that while Ghana may not be a major polluter, the country still faces significant environmental consequences.

“You need to come to the EPA, apply, and be registered and certified to undertake a carbon project. The key question is how we can make the big polluters pay for it. This is where the true carbon market comes into play. In many heavily polluted countries, there is limited land available for growing trees, which are essential for absorbing carbon dioxide and enabling carbon sequestration. Fortunately, Ghana does have this opportunity.”

“We are leveraging this advantage by requiring large polluters to come to Ghana and support local entrepreneurs in developing carbon market projects. If you can acquire hundreds or thousands of acres of land and then come to the EPA to register your plan to plant trees for carbon sequestration, we can calculate the amount of carbon credits generated. Each ton of carbon credit has a specific value.”

Beyond serving as a host for the registry, the agency is also expected to raise awareness among Ghanaians about the opportunities within the carbon market.

Dr. Krugu, who is also the New Patriotic Party’s (NPP) parliamentary candidate for the Zebilla Constituency, explained that as part of his vision for the area, if elected, he plans to expand local capacities to build sustainable wealth through Carbon Market participation.

Reporting by Mark Smith in the Upper East Region

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