THE WORLD'S SECOND LARGEST LUNG AFTER THE AMAZON
A vital artery
- The Congo and its tributaries are a vital resource for all the countries of the Congo Basin.
- The Basin holds 8% of the world’s forest-based carbon, so it also has a key role to play in helping to prevent global warming.
- The Blue Fund for the Congo Basin is a major sustainable development initiative designed to reduce the pressure to exploit the forests of the Congo Basin and thus mitigate the impact of global warming by promoting alternative economic development using the resources of the Congo River and its tributaries.
THE PURPOSE OF THE FUND
- Generating sustainable economic development for the peoples of the region while reducing deforestation is a top priority for the Congo Basin countries but also a global priority as a carbon sink.
THE BRAZZAVILLE FOUNDATION'S APPROACH
- The Foundation’s proposal for a Blue Fund for the Congo Basin was launched at the World Climate Change Conference, COP22, in Marrakesh in 2016.
- The Fund is a financial mechanism promoted and invested in by 17 central African countries to preserve the biodiversity of the Congo Basin region.
- In December 2019 at COP25, the design of the Blue Fund for the Congo Basin, including the legal structure, governance and management model of the financial mechanism, was presented.
- Work is ongoing to turn this concept into a mechanism capable of investing in a wide range of sustainable development projects and to mobilise the necessary resources from African states and private and public donors to contribute to the sustainable development of the Congo Basin region.
- The financial instrument is intended to ensure a better quality of life for the peoples and protect the forests of the Congo Basin.