At the Hamburg Sustainable Development Conference (HSC) on October 7-8, 2024, Judith Suminwa Tuluka, the Prime Minister of the Democratic Republic of Congo (DRC), called for fair compensation for carbon credits for countries with large forest areas.
"The DRC, like the Amazon, is a solution country with its forest basin that acts as a green lung for the world. We must be fairly rewarded for our contribution to fighting global warming. It's time to have an honest discussion about carbon pricing. We have formed a strategic alliance with Brazil and Indonesia to prioritize our tropical forests. Our voices need to be heard, and negotiations must lead to real results," she said during the panel discussion titled "Summit of the Future - What Next?"
The Prime Minister also highlighted the carbon offsetting services provided by forest ecosystems. Congolese forests absorb more carbon than those in the Amazon and Southeast Asia combined. According to World Bank data, these forests are among the few that sequester more CO2 than they emit yearly, acting as a net carbon sink and removing 822 million tons of CO2 equivalent annually.
Given this context, Suminwa stressed the need for a fair global price for carbon credits so that countries can fully benefit from their forest resources.
Her call comes just weeks before the 29th United Nations Climate Change Conference (COP29), scheduled for November 11-22, 2024, in Baku, Azerbaijan. As in previous summits, climate financing for African countries will be a key topic of discussion.
According to the French Development Agency (AFD), 90% of the $22.5 billion in climate action funding recorded in Africa comes from external sources. A better valuation of carbon credits could help forest-rich countries raise additional funds to adapt to climate change impacts.
It's worth noting that Maï-Ndombe province in the DRC was one of the first regions to pilot the REDD+ program, which aims to reduce emissions from deforestation and forest degradation while promoting sustainable forest management.
Espoir Olodo
