Forest Carbon Initiatives
In partnership with the Republic of Congo, we operate a pioneering REDD+ initiative to realise value from 92,530 hectares of standing forest in our Pikounda Nord concession in the heart of the Congo River Basin. The objective of this pilot initiative is to generate alternative revenues from sustainably managed forest landscapes by valuing the forest as a carbon sink and to originate carbon credits for the pre-compliance Voluntary Carbon market. This market is considered best practice and recognised by the global carbon community as able to generate solid and marketable credits.
Additionally, CIB is partnering with the Republic of Congo on a programme under the Forest Carbon Partnership Facility. The FCPF, which became operational in June 2008, is a global partnership focused on reducing emissions from deforestation and forest degradation, forest carbon stock conservation, sustainable management of forests and enhancement of forest carbon stocks (REDD+).
The World Bank is now providing funding to the Republic of Congo for the full development of the programme proposal, and once implemented and the emissions verified, this programme will purchase a number of carbon credits.