The Jospong Group of Companies has received international acclaim as the Swiss Government officially authorized the awarding of Internationally Transferred Mitigation Outcome (ITMO) credits to its Integrated Waste Recycling and Compost Facilities.
This momentous occasion unfolded during the COP28 conference in Dubai, showcasing the company’s steadfast dedication to global sustainability goals.
The signing ceremony, held in the presence of representatives from the Ministry of Environment, Science, Technology, and Innovation (MESTI), the Ministry of Lands and Natural Resources, and the Ministry of Water and Sanitation, along with the UNDP representative from Ghana, marked a significant step forward in acknowledging Jospong Group’s commitment to environmental initiatives.
The granted ITMO status encompasses four out of the 38 waste treatment plants under Zoomlion Ghana, a subsidiary of JGC.
These facilities were selected for the initial phase of a project aiming to generate approximately 1.5 million tons of carbon dioxide valued at US $20 million from the present until 2030.
Operating within the carbon emissions trading framework, ITMO allows countries to trade or acquire carbon credits internationally.
This mechanism not only stimulates the creation of new carbon markets but also contributes significantly to global greenhouse gas emissions reductions, aligning with Article 6 of the Paris Agreement.
Ghana’s Minister of Environment, Science, Technology, and Innovation, Dr. Kwaku Afriyie, stated that Ghana was the first country in Africa and the second globally to finalize its framework on Article 6, and the nation is now reaping the benefits.
Ambassador Felix Wertli of the Swiss Federal Office for the Environment (BAFU) emphasized the importance of the agreement in meeting Switzerland’s climate goals while enhancing waste management in Ghana.
He expressed Switzerland’s eagerness to continue strengthening its collaborative efforts with Ghana.
Dr. Joseph Siaw Agyepong, the Executive Chairman of the Jospong Group, expressed his elation over this historic achievement, emphasizing the company’s commitment to modernizing recycling and waste management processes in alignment with global sustainability goals.
He announced ongoing efforts to convert a significant number of Zoomlion’s waste trucks into electric vehicles in partnership with ZeroNox in the USA.
Dr. Agyepong unveiled the company’s plans for extensive climate-related research in 2024 and emphasized Jospong Group’s commitment to sponsoring individuals in climate studies, highlighting the company’s dedication to environmental education.
The Executive Chairman extended gratitude to the Swiss government, UNDP, and the Government of Ghana for acknowledging and recognizing the company’s efforts.
He also acknowledged the pivotal role played by the dedicated staff of the company in achieving this milestone, emphasizing their hard work, commitment, and dedication.
Chief Investment Officer Noah Gyimah underscored the accomplishment as reinforcing their commitment to sustainable waste management, environmental conservation, and international cooperation, paving the way for a greener and cleaner future.
