Description/achievement of initiative
This initiative builds local capacity to improve energy efficiency and reduce the emissions of a range of pollutants, supporting climate change mitigation and air quality improvement efforts in the transport sector on a sustainable basis. Policy, technology and finance-based interventions, maximise co-benefits for people, the environment and local economy. It ‘s designed for scale-up and replication regionally and internationally. Advanced Monitoring, Reporting and Verification solutions and innovative low and zero carbon emission-reduction technologies used, alongside pioneering financing solutions (green bond finance) and business models. It's integrated with Ghana’s climate change ambitions, low-carbon development pathway, sustainable development goals..
The program is divided into three phases: 1. Setting road transport emission baselines and recommending emissions standards based on real-world driving data. Demonstrating the feasibility of innovative low/zero emission-abatement and energy efficiency technologies;
2. Designing effective, efficient and equitable policy, technology and financing mechanisms to reduce transport emissions for market enablement, in consultation with stakeholders;
3. Promoting the implementation of the selected toolbox of measures and technologies, and providing access to private finance to scale-up projects maximizing the co-benefits of climate change mitigation and air quality improvement.
The Program will encourage linkages with climate and green financing initiatives and carbon markets to underpin private funding. Critically it will act as a scalable template, with potential for replication across the African continent and other regions.
Sustainability Business Model: Monetisation is through both:
MRV policy integration, standards development and revenue generating compliance schemes
Energy efficiency performance and recognition and valuation of economic, social and environmental co-benefits
Providing the commercial underpinning to attract private finance – Green Bond debt finance.
By having the ability to build a local fleet emissions inventory, set real-world local standards, identify the high polluters and quantify emission reduction impacts – the emissions problem and associated pollution through access to and deployment of emission reduction / energy efficiency technologies can be tackled at source.
Arrangements for Capacity-Building and Technology Transfer
At its core, the Ghana Eco-Transport Program aims to build local capacity and transfer innovative technologies to robustly reduce transport emissions. Some of the key actions to promote these objectives are:
• Conducting a series of workshops to build stakeholder capacity on best-practice emission-abatement options.
• Facilitating the transfer of innovative emission-reduction emission monitoring and mitigation technologies through demonstration and validation, suitable for local conditions and needs – aligning with local policy;
• Evaluating and enabling local production and assembly, where feasible, of these technologies (technology transfer, with associated economic benefits;
• Establishing training courses to create technical capacity for local workforce engaged in activities undertaken under the project;
• Work with local stakeholders to attract private finance to support full implementation
• Organising outreach and public information activities throughout the project, to ensure ongoing public engagement and transparency and cultivate wider ongoing support re environmental underpinning of the project.
Through working with local partner organisation: IGES Ghana, alongside key public and private stakeholders as identified, aligned policy and standards set by MESTI, EPA and GSA.
Coordination mechanisms/governance structure
The initiative is led by Impact Global Emission Solutions Ltd. (IGES) and supported by the Government of Ghana, the UNFCCC and a range of international NGOs. IGES Ghana manages the program and the Designated National Authority for Carbon Reduction Projects at the Ministry of Environment, Science, Technology and Innovation (MESTI) acts as governmental coordinator. The Ministry of Transport, the EPA, the GSA and Ministry of Finance and Economic Planning are also important stakeholders in implementation. The program is endorsed by the UNFCCC head office and Regional office in Lomé, who coordinate collaboration with a range of international NGOs.
The highest governance standards will be in place as the full implementation and roll out of this programme will be financed through Green Bonds issued in accordance with and adhering to Climate Bonds Standards Initiative, and other market mechanisms integrating Blockchain as data verification platform.
Impact Global Emission Solutions Ltd. (IGES), IGES Ghana Ltd, UNFCCC Head Office and Regional Collaboration Centre Lomé, Ghana National Ministry of Environment, Science, Technology and Innovation (MESTI) , Ghana national Ministry of Transport, Ministry of Finance and Economic Planning, Environmental Protection Agency (EPA), Ghana Standards Authority (GSA), Ghana Road Transport Coordinating Council, Metro Mass Busses.