This Emission Reductions Payment Agreement (ERPA) will reward efforts to reduce 8.4 million tons of carbon emissions through 2025 under the Republic of Congo’s ambitious emission reductions program.
"This agreement marks an important step toward a more sustainable forestry sector in the Republic of Congo. The results-based payments generated by the ERPA will incentivize companies, communities, and the government," said Abdoulaye Seck, Country Director, Republic of Congo, in a press release on Monday.
The Republic of Congo’s forests constitute carbon stock that is vital globally and are home to biodiversity of worldwide importance. The forest also plays an important role in national and household economies.
The country has the third largest expanse of tropical rainforest in Africa, and 80 percent of it is not protected.
The Republic of Congo’s emissions reduction program will be among the first in Africa to test REDD+ at scale.
The program will be implemented in the Sangha and Likouala Departments—a huge area covering over 12 million hectares of land and representing nearly 60 percent of the country’s forests.
While the national deforestation rate has been historically low, the rainforest risks becoming a future deforestation hotspot particularly due to increased activity among companies involved in logging, palm oil production, and mining.
The Republic of Congo is the sixth country in Africa and the 13th worldwide to sign an ERPA with the FCPF.
Together, these agreements commit nearly $645 million for approximately 130 million tons of carbon emissions reduced through 2025.