The Gabonese head of state reacted on social networks to the publication of the report of the United Nations Framework Convention on Climate Change, which certifies some 187 million carbon credits for Gabon over the period 2010-2018. The country intends to value them at up to 35 dollars per unit on the offset market.
«The United Nations Framework Convention on Climate Change (UN Climate Change) has just certified Gabon’s 187 million carbon credits for the period 2010-2018,» the Gabonese leader said on Facebook and Twitter on Monday 10 October.
The UNFCCC report was published on Friday 7 October (to read it, click on this link).
«This is an important step that opens the way to their commercialisation (on the offset market),» added Ali Bongo Ondimba.
Gabon intends to sell these 187 million carbon credits, half of which (90 million) by the time of COP 27 in Sharm-el-Sheikh. Knowing that it benefits from an offer at 30 dollars per unit, as revealed this weekend on social networks by the Minister of the Environment and Forests, Lee White, the country could receive in the next few weeks 2.8 billion dollars, or 800,000 million dollars more than the target set last June by the minister (2 billion dollars). This difference can be explained by the 20% increase in the value of the dollar (the reference currency on this market) compared to the euro (to which the CFA franc is linked by a fixed parity).
«For the climate, this is a great victory,» exulted the Gabonese head of state. This view is shared by the experts. «We need to better reward the efforts of countries to protect forests. This is the only way we will make progress,» said one of them.
«For our country, which will now be able to derive part of its resources from forest protection, this is a historic moment,» added the Gabonese leader before launching a «Bravo to all the teams who worked so hard to achieve this wonderful result.»
The words of the Gabonese president are not overused. For the country, this is indeed a major turning point. Valued at $35 each, Gabon’s 87 million carbon credits are equivalent to $6.5 billion (4,375 billion CFA francs). A figure that represents more than 40% of the country’s GDP!
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