Gabon has become the first African country to receive results-based payments for reduced carbon emissions from deforestation and forest degradation.
The payment of $17 million rewards Gabon’s reductions in 2016 and 2017 of a total of $150 million over ten years agreement between Gabon and the multi-donor UN-hosted Central African Forest Initiative’s (CAFI) in 2019.
Based on the agreement between Gabon and CAFI, the first payment will go towards investments into community forestry, scientific research, forest management practices, protected areas system and government capacity that will further decrease CO2 emissions and further enhance the income, livelihoods, and wellbeing of communities in Gabon.
Gabon has preserved much of its pristine rainforest since the early 2000s in creating 13 national parks, one of which is listed UNESCO World Heritage Site.
Its forests absorb a total of 140 million tons of CO2 every year, the equivalent of removing 30 million cars from the road globally.