Trade has the power to affect the social and economic fibre of nations. As the biggest gold producer in Africa and one of the largest in the world Ghana is being audacious by taking full control of its trade in gold with the establishment of the Ghana Gold Board (GOLDBOD)

Trade in gold in Ghana is mired by many challenges, chief among them is the issue of environmental sustainability.

Galamsey is a term that describes both small- and large-scale mining in so far as the act of mining itself is illegal or unsustainable.

Unsustainable mining has many adverse effects on the environment. 

In Ghana, gold deposits are usually in forest areas, which are prime food growing land, forest reserves, water bodies and other ecologically sensitive zones.

Sustainable approaches to trade can be tricky especially in a developing country like Ghana.

Youth unemployment and poverty rates remain significantly high. 

The recent cost of living hikes does not make things any easier. Gold mining has proven to be a very lucrative venture for the actors across its entire value chain.

There is no denying that glamsey is hard to end because of the immediate economic gratification it provides, regardless of the environmental and health costs.

According to some studies Ghana could be importing water by 2030, that is very scary indeed.

While galamsey is a highly politically contentious subject in Ghana, it needs to be attended to with cool heads and the relevant knowledge.

We have learnt that protecting the environment will not happen by chance.

Many concerned Ghanaians seem to agree with this. 

There have been marches, protests and various forms of citizen action geared towards getting decision makers to take some real action.

The Minerals and Mining Act of 2006 has provisions pertaining to water rights, forest and environmental protection. However, these seem to be woefully inadequate in the present scheme of things. 

In comes GOLDBOD, but again it seems very little is being done to safeguard the environment even within the parameters of gold trade where the money is directly being made.

The new Goldbod as established seeks to regulate the trade of gold. 

However, the Act establishing the Goldbod is not as proactive as one would wish in tightening the environmental sustainability of trading in gold.

Arguably, taking this much control of the gold trade presents a clear chance to ensure that mining companies adhere to more stringent environmental standards or risk their ability to trade. 

It would be easier to use Goldbod to trace gold that is sustainably mined or otherwise, if we are minded to do so.

And we should care enough about the economic and social cost of degrading the environment to be so minded.  

Our intentions should be clear, traceability should be a central focus of this law and the operations of the Board. We should aim for the very best economic, social and environmental outcome for all Ghanaians and beyond. Granted many countries developed at an unhindered state when they disregard the environment.

The common practice was to get rich by any means possible and worry about the consequences later.

But we have a peculiar problem in Ghana, this format does not seem to be working for us. Quite a number of Ghanaians depend on agribusiness.

It is an avenue for jobs, food and remains a way of life for many.

The natural environment presents opportunities for social and economic outcomes that we have yet to harness. 

The World Trade Organisation (WTO), has a clear position on how trade could be used to protect the environment.

Environmental degradation is on the rise the world over.

Now this has proven costly, changes in weather patterns, increases in diseases that can directly be attributed to environmental degradation among others impact every human on this planet.  

Ghana as a member of the WTO should subscribe to these tenets in engaging in sustainable gold trading.

If we carry on as we are currently, the cost to the environment could be too high.

It is much easier to prevent the effects of environmental degradation than to reverse or remedy it.

We have a real opportunity to fix the environmental sustainability regime of mining in Ghana.

This is where the real wins can be measured and made by the Goldbod.

We certainly need more from the Goldbod.

The writer is a lawyer and development professional