Carbon Prices Should Be 20-Times Higher, The Two Congos Say
- Congo Basin nation presidents speak at UNDP event in New York
- Gap in price between voluntary and regulatory market ‘unfair’
The Congo Basin.
Source: Getty Images
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Carbon credits produced in Africa and used by companies to offset pollution by paying for forest conservation on the continent should be at least 20 times more expensive than current prices, two presidents of Congo Basin nations said.
A higher price would reduce the appetite for resource extraction and spur development in poorer countries, particularly those in Africa, according to Democratic Republic of Congo’s Felix Tshisekedi and Republic of Congo’s Denis Sassou Nguesso.