In the Council of Ministers held on October 13 under the chairmanship of the Head of State Ali Bongo, the Gabonese government adopted a draft decree appointing the organization responsible for the marketing of the Republic’s carbon credits.
By the effect of the said decree, it appointed the Gabonese Strategic Investment Fund (FGIS) as the exclusive agent responsible for the marketing of carbon credits belonging to the Gabonese Republic.
As such, according to the press release made public after the Board meeting, the FGIS agent is responsible, among other things, on national territory or abroad, for negotiating and concluding the sale price of carbon credits, in accordance with the rules and practices in force ; to provide for the execution of the agreements resulting from these negotiations; to constitute a documentary portfolio for the exercise of its mission.
FGIS will also be responsible for calling on any expertise required; to set up any support structure for the exercise of its mission; collect the resources from the marketing of carbon credits and pay them back in accordance with the provisions in force; as well as to remunerate all the stakeholders, service providers or experts mobilized in the execution of its mission.
As part of the execution of this mandate, monitoring is carried out jointly by the Minister in charge of the Economy and the Minister in charge of the Environment, specifies the government.
A carbon credit is a unit of measurement that represents a CO2 reduction of one tonne. It is awarded to a project leader who reduces greenhouse gas emissions. In other words, by acquiring carbon credits, the investor implies that he is embarking on renewable or other energy projects, capable of contributing to the reduction of greenhouse gases.
By OMA Newsletter N° 896 of 14/10/2022
Article published under the direction of Dr. Najib Kettani
The OMA, NGO with an Intercontinental vocation
For the development of cultural exchanges
Valuing human potential
The promotion and consolidation of Africa’s development, and
Inter-African integration
