The Democratic Republic of Congo is set to receive a significant funding boost of $8.3 million in carbon credits, or approximately 5 billion FCFA. This financial reward is a recognition of the country’s substantial efforts in preserving its forests and reducing carbon emissions.
The funds, which will be distributed to designated beneficiaries according to a carefully designed Benefit Sharing Plan, are equivalent to 1,674,212 tonnes of carbon dioxide (tCO2) that Congo successfully sequestered in 2020.
These figures are based on a comprehensive audit conducted by the Aenor firm between November 2023 and July 2024.
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The publication of the audit report on August 26 will mark a significant milestone for Congo. It will confirm the emission reductions achieved by the Sangha Likouala Emission Reduction Program (PRE-SL) and pave the way for the distribution of the carbon fund to program beneficiaries.
This is the first payment of its kind for Congo, reflecting the country’s commitment to reducing greenhouse gas emissions.
The PRE-SL program, a joint initiative of the Congolese government and the World Bank, aims to reduce emissions from deforestation and forest degradation in the Likouala and Sangha departments.
By integrating sustainable forest management, biodiversity conservation, and increasing forest carbon stocks, the program seeks to generate carbon credits.
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The program has already made significant strides, including raising awareness among stakeholders, conducting community consultations to update environmental and social safeguards, and collecting data from forest concessions.
These efforts have culminated in the development of an Emission Reduction Monitoring Report that aligns with the standards set by the Forest Carbon Partnership Facility, a World Bank entity.
The PRE-SL management team successfully submitted its monitoring report to the World Bank in June 2023, which was subsequently forwarded to the independent auditor for review.
