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World’s Biggest Ever Carbon Credits Issue Planned in Gabon

  • Country needs to benefit from its forests, Minister says
  • Minister questions plan by TotalEnergies to generate offsets
Forest elephants in the Ivindo national park, near Makokou, Gabon.
Forest elephants in the Ivindo national park, near Makokou, Gabon.Photographer: Amaury Hauchard/AFP/Getty Images
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Gabon, the second-most forested nation after Suriname, aims to create 187 million carbon credits, almost half of which may be sold on the offsets market in what would be the single largest issuance in history.

The government is working with the United Nations Framework Convention on Climate Change’s REDD+ mechanism to create the credits, Lee White, Gabon’s environment minister, said last week on the sidelines of a Commonwealth group of nations meeting in Rwanda. At the same time, Gabon wants to harvest its forests sustainably to generate income, he added.