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In a landmark event attended by a delegation from Ghana led by the 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 signing ceremony took place on the sidelines during the ongoing COP28 in Dubai, symbolising the company’s unwavering commitment to global sustainability objectives.
Also present at the ceremony include Ministers of the Ministry of Environment, Science, Technology, and Innovation (MESTI), the Ministry of Lands and Natural Resources, and the Ministry of Water Resources and Sanitation, as well as the representative of UNDP from Ghana.
The 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 $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 does not only facilitate the creation of new carbon markets but also contribute 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 the 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”.
Mr Felix Wertli of the Swiss Federal Office for the Environment (BAFU) remarked that the signing of the document was of great significance to the Swiss government in pursuit of reducing carbon emissions to meet the Sustainable Development Goals.
He highlighted the mutually beneficial nature of the agreement, wherein 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 endeavors.
An elated Dr Joseph Siaw Agyepong, the Executive Chairman of the Jospong Group, expressed his gratitude for the 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, emphasizing the company’s commitment to fostering environmental education.
The Executive Chairman extended gratitude to the Swiss government, UNDP, and the Government of Ghana for acknowledging and recognising the company’s efforts.
