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The Gabon Will receive its first international grant as a reward for protecting its forests. Therefore, there was only one promise in the agreement signed with Norway in September 2019, so it is true to check the commitment of the obligations made by Libreville after eighteen months of discussions and audits.
Therefore, $ 17 million (.3 14.3 million) will be provided in lieu of extra tons of carbon, thanks to measures taken to combat deforestation. These were estimated at 3.4 million tonnes in both 2016 and 2017, compared to the average emissions of the previous ten years, and they are paid at $ 5 per tonne. Gabon could raise a total of $ 150 million if he retains his efforts.
The move marks an important moment for the countries of Central Africa, home to the planet’s second largest tropical forest. “This is the first time an African country has been recognized nationally for reducing forest-linked emissions.”, On behalf of the Central African Forest Initiative (CAFI), which unites several industrialized nations, underlined Norwegian Environment Minister Schwinning Rodwat on Tuesday 22 June, with Norway being the main donor. Created in September 2015, just weeks before the signing of the Paris Climate Agreement, the fund is managed by the United Nations Development Program (UNDP).
The money received should be used to fund policies that allow to control the evolution of forest covering 88% of the country’s surface today. With less than 2 million people concentrated in coastal cities, the pressure on forests is linked to recording above all else. Until now, this has been low compared to the situation in the Democratic Republic of Congo, which has become the country with the highest deforestation rate after Brazil.
Caponis Water and Forestry Minister Lee White thanked Norway for this recognition, although he did not hide the fact that the selected gift was not adequately recognized, in his view, the efforts made. Verification of international standards sends a strong signal to carbon market players that he hopes Carbon will find a source of funding with them. “CAFI accreditation of our monitoring system and data is particularly encouraging because it sets the global benchmark for emissions reduction emissions associated with deforestation and deforestation.”The British scientist was appointed to the post in 2019, but has been accused of leading climate negotiations for more than a decade.
In addition to the fact that tropical forests make up more than half of the terrestrial biodiversity, they represent important carbon sinks in the fight against climate change. The African Massif absorbs about 4% of global CO emissions2 Every year.