Community news

GLASGOW – 9 November 2021 – On the sidelines of the UN Climate Change Conference, COP26, the Ghana Environmental Protection Agency (EPA) under the auspices of the Ministry of Environment, Science, Technology and Innovation (MESTI) and Mercuria Energy Trading, one of the world’s largest integrated independent energy and commodities companies, announced today the signing of a Memorandum of Understanding (MOU) to collaborate on operationalising Article 6 on Carbon Market of the Paris Agreement in the Republic of Ghana and facilitate the ambitions set out in the Cooperation Agreement between the Swiss Confederation and Republic of Ghana.

The Parties hope to build capabilities of local business to invest and implement greenhouse gas emissions reduction projects in the following sectors:

• Alternative waste management 
• Oil and gas
• Transportation
• Sustainable household energy (Cookstove and household devices)
• Forestry (REDD+ as both project-based and jurisdictional) 
• Marine and coastal waters conservation  
• Other sectors that the Parties may further identify as appropriate.

The programmes are expected to contribute to achieving Ghana’s Nationally Determined Contribution to the Paris Agreement, create employment and facilitate transfer of climate-friendly technologies. The MOU will also pave the way for the EPA and Mercuria Trading to start engagement with key stakeholders in the carbon market value chain.

“Mercuria recognises the investment opportunities for promoting the sustainable transition to a low carbon future through green business, creation of green jobs, technology transfer, and sustainable development benefits in the emerging carbon markets,” said Enric Arderiu, Global Head of Environmental Products Trading. “Mercuria will work with Ghana to increase local capabilities in emissions reduction project implementation.”

Established in 2004, Mercuria is one of the largest independent energy and commodity groups in the world, bringing efficiency to the commodity value chain with technology, expertise, and solutions. Mercuria’s business includes trading flows, strategic assets, and structuring activities that generate more than $120 billion in turnover. The company has built upon a series of strategic acquisitions, including the physical commodities trading unit of JPMorgan Chase & Company, Noble Group’s US gas and power business, and the Aegean Marine Petroleum Network, reorganized as Minerva Bunkering. It has become one of the most active players in the renewable markets, with more than fifty percent of new investments dedicated to the energy transition.

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