Ghana to become first African country to access climate finance from the LEAF Coalition

12 November | Antalya Türkiye: Ghana is set to become the first African country to access climate finance through the LEAF Coalition, demonstrating the strong impact it has made in tackling deforestation and rewarding its success.  

This follows the announcement by the Architecture for REDD+ Transactions (ART) that it has issued the first high-integrity jurisdictional TREES emissions reductions credits for Ghana, enabling transactions to proceed with LEAF Coalition public and private sector participants, including the governments of the UK and Norway, along with corporate participants, including Amazon, Bayer, PwC and Walmart Foundation. Ghana also becomes the first country to be issued TREES credits that qualify for ICVCMs Core Carbon Principles. 

As a result, millions of dollars in climate finance from LEAF Coalition buyers will begin flowing to Ghana as credits are transacted, via an independent financial intermediary, in line with an agreed benefit-sharing plan developed through a multi-stage consultation process. Under the plan, over two-thirds of net proceeds will flow directly to local stakeholders, including farmers, communities and traditional authorities. 

Ghana's jurisdictional REDD+ program covers approximately 2.5 million hectares of forest across 10 regions in southern and central Ghana. The program targets the cocoa-forest landscape of Ghana's High Forest Zone, where agricultural expansion, illegal logging, mining, and wildfires continue to drive deforestation. To tackle these threats, Ghana has implemented a comprehensive program of sustainable agroforestry, strengthened forest governance and law enforcement, community-based forest management, and restoration of degraded forest areas. A key element of the program has been incentivizing cocoa farmers to plant shade trees, which restore forests, while helping improve crop yields and increase incomes.  

Ghana was among the first countries to sign an agreement to access climate finance from the LEAF Coalition at COP 28. It becomes only the third country in the world to have TREES credits issued under the ART program, following Guyana and Costa Rica. 

Hon. Emmanuel Armah-Kofi Buah, Minister of Lands and Natural Resources of Ghana, said: 

'Ghana is proud to lead the way as the first African country to access climate finance through the LEAF Coalition. This is a landmark achievement that recognises the dedication of our communities, farmers and government to protecting Ghana's forests while pursuing sustainable development. This finance will support our communities in advancing agroforestry, improving livelihoods, and demonstrating that economic growth and forest conservation can go hand in hand.' 

Katie White, UK Minister for Climate Transition, said:

‘Ghana is a trailblazer in forest protection, with these payments scaling up high-integrity forest finance and rewarding countries that are helping to stop deforestation. The LEAF Coalition is something the international climate community can be proud of as we work to protect forests and tackle climate change.’ 

Sigrun Aasland, Minister for Climate and Environment for Norway, said:

‘Congratulations to Ghana on this important achievement. Ghana’s success sends a strong signal that protecting forests benefits the climate, nature and local communities. Through the LEAF Coalition, we are demonstrating how countries that deliver results can unlock private and public finance at scale and support further efforts to protect the rainforest.’ 

Eron Bloomgarden, CEO, Emergent, said: 

'Ghana's achievement is a landmark moment for Africa. What makes Ghana's results so compelling is the approach: demonstrating that expanding sustainable agroforestry and protecting existing forests can work together at a landscape scale to cut deforestation while improving livelihoods for people and communities. This is the model the world needs, where forest protection and economic development reinforce each other rather than compete. We are proud that the LEAF Coalition can now channel meaningful finance to support Ghana's continued leadership.' 

Daniel Amponsah, farmer and Chairman, Asunafo-Asutifi HIA Management Board, Ghana, said: 

'This is a gamechanger. LEAF funding will help communities advance sustainable agroforestry, planting shade trees that not only restore forests but also help improve cocoa yields and incomes. And finance from LEAF will also support communities to build new boreholes for fresh water, schools and health facilities.' 

Daniel Schneiders, Director Climate & Water, Bayer, said:

'Reducing emissions from commodity sourcing supply chains is as urgent as it is challenging. The achievements of Ghana in tackling the issue at a landscape level, through sustainable agroforestry and protection of existing forests sends a powerful signal: when countries are supported to act, deforestation-free supply becomes viable and real. This is why we chose to be part of this exciting initiative.' 

Jamey Mulligan, Head of Carbon Neutralization at Amazon, said:

‘Programs that cut emissions from tropical deforestation at scale are one of the highest-impact climate actions a company can support today, alongside decarbonizing its own operations and supply chain. Ghana's program shows the impact goes well beyond carbon. It's funding schools, health clinics and clean water in forest communities. This is a gamechanger for forests, climate and people, and Amazon is proud to support it.’ 

Simon Hall, Director, Strategic Initiatives, Walmart Foundation, said:

‘Walmart Foundation is proud to support this LEAF Coalition deal with Ghana. This is exactly the type of large-scale jurisdictional financing that’s needed to help reduce deforestation and strengthen resilience for communities. We’re looking forward to seeing how the financing from this deal will help catalyze additional impacts on the ground and help unlock more investment across Ghana and other tropical forest jurisdictions.’ 

Latham & Watkins LLP acted as US counsel for Emergent on the agreement with Ghana. 

- Ends - 

For further information please contact:

Philip Brady, EVP Communications, Emergent

e: phil@emergentclimate.com | m: +44 7464 985 131

Notes to Editors 

The LEAF Coalition aims to build a market for high-integrity REDD+ emissions reductions and removals from large-scale schemes operated by national or subnational governments (known as Jurisdictional REDD+). LEAF only purchases credits issued by ART, which meet the robust requirements of its TREES standard. This builds buyer confidence and trust by ensuring the highest levels of environmental and integrity and social safeguards, particularly for Indigenous peoples and local communities. 

Emergent is a US non-profit that serves as a transactions platform engaging between tropical forest countries and the private sector to mobilize finance to support emissions reductions from deforestation. It does this by developing and bringing practical, credible and large-scale forest protection solutions to market. Emergent serves as the coordinator of the LEAF Coalition. 

ART TREES: ART is a standalone, independent program that develops and administers standardized procedures for crediting emissions reductions and removals from national and large subnational REDD+ programs. ART’s standard for the measurement, monitoring, reporting and verification of emissions reductions and removals from the forest sector – The REDD+ Environmental Excellence Standard, known as TREES – represents the next step in the evolution of global efforts to protect and restore tropical forests. TREES supports transformational climate action at scale, while upholding rigorous social and environmental integrity.