A Forest Fund for Africa

Gabon will become the first African nation to receive funding to preserve its rainforests to mitigate the effects of climate change. As part of a 10-year deal, Norway will pay $150 million to Gabon to battle deforestation and reduce greenhouse gas emissions. The deal is part of the Central African Forest Initiative, which was launched by the United Nations in 2015 to link European donors with countries in Africa. The partnership sets a carbon floor price of $10 per certified ton and will be paid on the basis of verified results from 2016 through to 2025. Gabon, which is on the Atlantic Ocean, has just 2 million people and abundant natural resources. Forests cover almost 90% of the country. Since the early 2000s, it has created more than a dozen national parks to preserve the forests. Gabon also has around 12% of the Congo Basin forest, which is considered the world’s second largest tropical rainforest. The country hosts 60% of Africa’s surviving forest elephants, which CAFI describes as “a key indicator of sound natural resource governance.”


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