Search

4.42. In 2019, Ghana signed an Emission Reductions Payment Agreement with the World Bank under the "REDD+ process"[23]. Performance-based payments of up to USD 50 million are provided for reductions of 10 million tonnes of CO2 emissions from the forest and land-use sectors. The country currently has two large subnational REDD+ programmes. [23] Reducing emissions from deforestation and forest degradation and the role of conservation, sustainable management of forests, and enhancement of forest carbon stocks in developing countries (REDD+).

4.45. In 2017, following the addition of African rosewood to the harvesting restrictions under the Convention on International Trade in Endangered Species (CITES), Ghana restricted that species under the 2017 Regulations. In 2017, following concerns raised about rosewood being harvested in large volumes in northern Ghana, the Minister of Lands and Natural Resources met civil society groups and committed to further dialogue with them on strengthening regulation of rosewood. A rosewood harvesting and export ban was put in place in 2018 and remains in force.

4.47. (...). As fish consumption exceeds local production, there is a need for an accelerated pace in the aquaculture development; and further efforts are needed to address overfishing. Ghana is represented in the WTO Fisheries Subsidies negotiations by the African, Caribbean, and Pacific (ACP) and Africa groups.

4.51. The main legislation is the Fisheries Act, 2002 (Act 625) as amended by the Fisheries (Amendment) Act, 2014 (Act 880), under review in 2022, and the Fisheries Regulations, 2010 as amended by the Fisheries (Amendment) Regulations, 2015. The amendments seek to give effect to international conservation and management obligations to combat IUU fishing. The Fisheries Management Plan 2015-19 (currently under review) was developed in response to depletion of fish stocks.

4.52. Ghana is party to several international agreements for fisheries management, including the International Commission for the Conservation of Atlantic Tuna (ICCAT), the FAO Code of Conduct for Responsible Fisheries, the FAO Compliance Agreement on Flag States, the FAO Guidelines on Flag State Performance for Responsible Fisheries, and the UN Fish Stocks Agreement and the Agreement on Port State Measures (ratified in 2016).

4.53. Ghana's waters have been affected by a gradual decrease in fish stocks due to increasing fishing effort, weak enforcement, and non-compliance with fisheries management measures. The authorities recognize that the monitoring, control, and surveillance of the EEZ and the enforcement of the fisheries' legislation are inadequate. Parliamentary approval has been granted for the procurement of four patrol boats to increase enforcement presence at sea. Furthermore, Ghana is involved in the subregional enforcement activities through the Fisheries Committee for the West Central Gulf of Guinea (FCWC).

4.69. Further regulatory changes during the review period include: (i) the Petroleum (Exploration and Production) (General) Regulations, 2018 (L.I. 2359) to provide for the procedures and conditions for the grant of a PA; (ii) the Petroleum Exploration and Production Data Management Regulation, 2017 (L.I. 2257) to strengthen the management of petroleum data; and (iii) the Petroleum (Exploration and Production) (Health, Safety and Environment) Regulations, 2017 (L.I. 2258).

4.88. The country's electricity generation mix is mainly based on thermal and hydropower, with 2.4% of renewable energy as at the end of 2021. (...)

4.93. Ghana is well endowed with renewable energy resources that are yet to be fully exploited. These include biomass, hydropower, wind along the coast, and high solar irradiation. As at 2020, the installed grid-connected renewable capacity from solar and waste sources stood at 59 MW, an increase from 2.5 MW in 2014 (Table 4.11).

4.94. The Renewable Energy Act, 2011 (Act 832) is intended to create an enabling environment for attracting private sector investment in the renewable energy sector. The Renewable Energy Master Plan (2019 2030) guides the renewables sector. The incentives for solar energy equipment are: exemption from import duties and zero-rated VAT, and no licence fees for solar manufacturing and assembling companies. For wind-powered components, concessional imports duties are set at 5%, and VAT is zero-rated.