Businesses urged to explore opportunities in carbon market
Businesses are being urged to explore the growing opportunities within the carbon market to expand their profit margins and contribute significantly to reduce carbon emissions.
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The new Advisory Partner at audit firm- Makers and Partners (MAP), Wilfred Neneh Addico, highlighted the financial and environmental advantages that could be gained through active participation in carbon trading.
He said these markets, which allowed for the buying and selling of carbon credits, permits that acted as commodities, offered a cost-effective approach to reducing greenhouse gas emissions.
Mr Addico gave the advice in an interview with the Daily Graphic in Accra.
He leads MAP’s Environmental, Social and Governance (ESG), Carbon Trading, Forensic Investigations, Cybersecurity and Technology Audits service lines.
His admission took effect from May 13, 2024 as Partner in-charge of Governance and Risk Advisory Services.
"MAP is poised to assist businesses in developing their ESG strategy, integrating these principles into their operations, and ensuring appropriate disclosures that meet international standards like the Global Reporting Initiatives (GRI).
By doing so, businesses can identify, assess and manage ESG-related risks that might impact their reputation, financial performance and operating licenses,” Mr Addico said.
Experience
Mr Addico is joining the firm with over 21 years of experience spanning various advisory service lines; his experience cuts across telecom, banking, health insurance and agriculture sectors, where he conducted advisory engagements for large multinationals in Ghana, Congo and Liberia.
Prior to joining MAP, he was the team lead for Forensic Advisory at MTN Ghana where he led engagements which significantly contributed to the development of policies, processes and procedures (PPPs), securing of systems and overall improvement of the control environment to prevent fraud, abuse and misconduct.
His efforts also contributed to building a sound ethical culture in the organisation which ensured that MTN remained sustainable and profitable.
Prior to MTN, Neneh worked with the National Health Insurance Authority (NHIA), Westminster Primary Care Trust in London, United Kingdom and Discoverytel Ghana Ltd.
He also served as Team lead for Assets Verification and validation for Kpong Irrigation Scheme as part of post implementation review for the rehabilitation and
modernisation of the Kpong Irrigation Scheme which was a World Bank funded project, through the Ministry of Food and Agriculture (MoFA) and implemented by Ghana
Commercial Agriculture Project (GCAP).
He is a product of the University of Ghana Business School and Leicester University in the United Kingdom.
He is also a member of a number of reputable organisations, including the Institute of Chartered Accountants Ghana (ICAG), Association of Certified Fraud Examiners (ACFE), Institute of Internal Auditors (IIA) and ISACA, an International Professional Association which focuses on Information System Auditing, Risk Management and Governance.
MAP’s mission is to provide excellent professional service which is anchored on our core values of integrity, can do, confidentiality, professionalism and partnerships.
The firm’s future holds bright prospects and we look to grow their clients base beyond Ghana and serve other clients in Africa and the rest of the world.