In an effort to fight climate change, the United Nations announced Sunday that Gabon will become the first African country paid with international funds to preserve its rainforest.
Through the Central African Forest Initiative , Norway will pay $150 million to Gabon to reduce greenhouse gas emissions and battle deforestation. The announcement was made at the Climate Action Summit in New York, where world leaders gathered to discuss how to reach net-zero greenhouse gas emissions.
is a collaborative partnership between the UN Development Program , six Central African countries, Food and Agriculture Organization of the United Nations , the World Bank and a coalition of donors including the United Kingdom, Norway and South Korea.
, the historic 10-year deal with Gabon will see that the country maintains up to 98% of its rainforests. Read More"The 150 million US dollars agreement announced today between Gabon and Norway via the Central African forest initiative is historic in many ways.
, which includes a historic carbon floor price to further encourage Gabon to continue to preserve its rainforest. This is a major breakthrough for REDD+ in Africa," Elvestuen said.For many years, Gabon has been a leader in Africa in preserving its rainforests.In 2002, it announced the establishment of its first national park system at the World Summit in South Africa. The park system consists of a network of 13 parks.
said was a "key indicator of sound natural resource governance." Raising the value of Gabonese rainforestsBut Gabon is not without its environmental challenges. In June, following a corruption scandal in which hundreds of containers of illegally logged kevazingo wood went missing, the country's former forests minister was fired.
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