This week, Gabon is hosting a major climate change event that meets governments, cities and private sector leaders to advance climate action. Africa Climate Week (ACW 2022) will be held in Gabon from 29 August to 2 September to provide a platform for enhancing collaboration on climate change mitigation.
The event is hosted by the Government of Gabon and jointly co-organized by the UN Climate Change, the global partners UN Development Programme, UN Environment Programme, the World Bank Group and the partners based in Africa.
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Financial institutions and civil societies will also be brought together to take the pulse of climate action in the region, explore climate challenges and opportunities and showcase ambitious solutions.
ACW 2022 is held in advance of COP27 in Sharm el-Sheikh, Egypt, in November. Africa Climate Week 2022 aims to accelerate implementation of the Glasgow Climate Pact decisions and the Paris Agreement for the continent. Discussions are set to identify how national climate goals can also contribute to a recovery after the pandemic.
Gabon as a nation is praised in Africa as ambitious in its efforts to tackle the climate crisis. 88% of the country is tropical rainforests and it cuts down very few trees. However, the country also hosts an oil industry that makes up 60% of its economy.
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The country is trying to shift the currents and make its trees cost more alive rather than cut for timber, supporting most developing nations’ economies. The country is issuing the largest carbon credit sale in history to generate income.
In October, Gabon plans to issue 187 million carbon credits, 50% of which will be sold on the offsets market. The hope is that companies and governments from developed countries will scoop them up at a high price which will preserve trees, combate climate change and provide jobs for the young population.
ACW 2022 is open to stakeholders that would like to discuss similar pathways to reducing emissions.
