In a landmark event attended by a distinguished delegation from Ghana led by President Nana Addo Dankwa Akufo-Addo, the Swiss government has 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.
This significant moment unfolded amid the ongoing COP28 in Dubai, symbolising the company’s unwavering commitment to global sustainability objectives. The signing ceremony featured the Ministry of Environment, Science, Technology, and Innovation (MESTI), Ministry of Lands and Natural Resources and the Ministry of Water and Sanitation, each represented by their respective sector ministers – as well as the representative of UNDP from Ghana.
The granted ITMO status encompasses four out of the 38 waste treatment plants belonging to Zoomlion Ghana, a subsidiary of JGC, which were selected for the initial phase of the project aiming to generate approximately 1.5 million tonnes of carbon dioxide valued at US$20million from the present until 2030.
The 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 emission reductions, and are defined under Article 6 of the Paris Agreement.
According to the Minister of Environment, Science, Technology and Innovation (MESTI), Dr. Kwaku Afriyie, Ghana was the first country in Africa and second in the world to have finalised its framework on Article 6. “Now we are at the forefront, and we are reaping the benefits,” he remarked.
He noted that: “If climate change mitigation and adaptation is to happen, the real provider of capital should be the private sector with government enabling them”.
Amb. Felix Wertli-Swiss Federal Office for the Environment (BAFU), remarked that signing the document is of great significance to the Swiss government in pursuit of reducing carbon emissions to meet the Sustainable Development Goals.
Amb. Wertli highlighted the agreement’s mutually beneficial nature, whereby Ghana reduces emissions and enhances waste management while Switzerland advances its climate goals. He expressed Switzerland’s eagerness to continue strengthening its relationship with Ghana in these endeavours.
Dr. Joseph Siaw Agyepong, Executive Chairman-Jospong Group, expressed his thoughts on this historic achievement, stating: “The world has now gone green, so we are trying to see how best we can modernise most of our recycling and waste management processes to meet conditions of the new order”. He further disclosed that about a 1,000 of Zoomlion’s diesel waste trucks are undergoing conversion into electric vehicles, in partnership with ZeroNox in the USA.
In a forward-looking declaration, Dr. Agyepong announced the company’s plans for extensive climate-related research in 2024. Additionally, Jospong Group intends to sponsor a number of individuals in climate studies; emphasising the company’s commitment to fostering environmental education.
The Executive Chairman extended gratitude to the Swiss government, UNDP and government of Ghana for acknowledging and recognising the company’s efforts.
He acknowledged the pivotal role played by the company’s dedicated staff in achieving this milestone, emphasising “their hard work, commitment and dedication brought us this far”.
Chief Investment Officer-Jospong Group, Mr. Noah Gyimah, emphasised: “This accomplishment reinforces our commitment to sustainable waste management, environmental conservation and international cooperation. Together, we pave the way for a greener and cleaner future”.
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