The big sovereign carbon trade
Africa's "green superpower" expected to issue 90 million carbon credits
The single largest monetisation of natural capital is expected to take place later in October.
The government of Gabon is expected to issue 90 million carbon credits as it seeks funds to finance the conservation of it’s carbon absorbing forests, and help diversify the country’s income stream away from oil.
Around 85% of Gabon’s land is covered in rainforest, an area about the size of the UK. The ‘natural capital’ locked up in Gabon’s forests are likely to be vital to the growth in nature-based carbon credits, with the imminent sale expected to be a test case for the market in sovereign carbon credits.1