Macron pledges $53 million to a new forest protection plan

On Thursday, French President Emmanuel Macron urged for more decisive action on international climate obligations and pledged $52.9 million (50 million euros) to a new global programme to reward nations for safeguarding their forests and biodiversity.

The declaration was made at the conclusion of the two-day One Forest Summit in Gabon, which had as its goals to review accomplishments since the COP27 climate conference of the previous year and to reaffirm goals for the preservation and sustainable management of the world’s forests.

On the first full day of a four-nation African tour, Macron said in a speech, “We realised the necessity to have funds on the table and tangible initiatives.

The financing from France is a part of a joint $106 million (100 million euro) pledge to launch a mechanism that seeks to reward nations whose forest protection or restoration has been supported by scientific evidence.

Macron stated that studies to better understand the importance of forests by mapping carbon stocks, biodiversity, and levels of carbon sequestration in the Amazon, Africa, and Asia would support the programme.

READ ALSO: Israel criticises Brazil for letting Iranian vessels dock in Rio de Janeiro

It is crucial how nations in Central Africa, like Gabon, handle their portion of the second-largest rainforest in the world. The so-called lungs of Africa are responsible for millions of people receiving rain in the remote Ethiopian highlands and the arid Sahel by storing more carbon per hectare than the Amazon. They also help control temperature.

Macron claimed that the new system will resolve a problem with current carbon credit programmes in which countries like Gabon, who have largely undeveloped forests, and deforested nations that are reforesting are not reimbursed.

It’s a little ridiculous, he said.

Prior to this, Macron travelled to a rainforest outside the Gabonese capital, where he wandered among tall trees and tried a kola nut. On the African tour, which includes his first trips as president to Angola, Congo, and the Republic of Congo, he has stated he intends to stay away from politics.

President Ali Bongo of Gabon expressed satisfaction with the summit’s outcome and the prospects for the following climate conference as it came to a close.

“We have a solid plan in place that will turn COP28 into the success that we desired.”

Reuters