Gabon | After creating NPs & other conservation improvements, country set for up to US$150M payment
Gabon is set to become the first nation in Africa to earn millions in results-based payments for conservation to the tune of $150 million. The deal, brokered by Central African Rainforest Initiative (CAFI) on behalf of the Norweigian government, aims to bolster the successes already seen by Gabon in their rainforest conservation.
The 10-year agreement will reward Gabon – in the form of results-based payments – for reducing greenhouse gas emissions from deforestation and degradation. The agreement will also reward them for the absorption of carbon dioxide by natural forests. It will retroactively honor performance from as far back as 2016. Monies from those and future results will be paid out annually.