FORM Ghana, a Forest Stewardship Council (FSC) certified forest plantation management company, has entered into an agreement with Climate Impact Partners, a UK-based carbon finance organisation. This agreement grants exclusive access to 371,000 high-quality carbon removal credits from FORM Ghana’s flagship reforestation project, which is located in two regions in Central Ghana, to Climate Impact Partners.
The reforestation project, certified under Verra’s Verified Carbon Standard (VCS) and following FSC Principles and Criteria for Sustainable Forest Management, aims to restore 20,000 hectares of degraded forest reserves in Ghana. This effort comes in response to Ghana’s loss of 2.5 million hectares of forest between 1990 and 2010. To date, nearly 12,000 hectares have been successfully restored, with a focus on planting teak (Tectona grandis) and native species.
As a timber business, the project has created over 1,000 jobs, with 40% of these positions allocated to women, in a community affected by climate change. It helps combat deforestation drivers by promoting responsible land management practices and enhancing food security.
The agreement provides corporates with ambitious net-zero targets the opportunity to acquire high-quality carbon removal credits.
“Africa’s potential as the engine for global green growth is untapped, with the voluntary carbon market playing a central role in this. FORM Ghana’s reforestation project exemplifies the important role of carbon finance in creating new carbon sinks, working with local communities, addressing the drivers of deforestation, and supporting biodiversity. The project highlights just how powerful nature can be as a climate mitigation tool, helping to support progress towards global climate targets and ensuring a thriving future for all life on Earth,” said Faith Temba, Africa Sourcing Manager at Climate Impact Partners.
“We are thrilled to partner with Climate Impact Partners to amplify the positive impact of our reforestation projects. This agreement allows us to further our mission of restoring Ghana’s forests while generating valuable carbon credits and creating a positive social and environmental impact,” added Willem Fourie, CEO, FORM Ghana.