After 11 years of preparations marked by heated negotiations and twists and turns, Madagascar finally lands its first carbon sales contract with the World Bank in the role of intermediary.
This is a 5-year contract for the reduction and sale of 10 million tonnes of carbon equivalent which is expected to bring in $ 50 million to 5 regions, 177 municipalities, civil society organizations and the State. through the line ministries (environment and finance).
This sale is, however, conditioned by the performance of the Big Island in terms of forest conservation and the restoration of degraded forest landscapes. A mechanism that will allow the ministry in charge of the environment (MEDD) to raise the country’s ecological objectives higher.
These twelve months have been intense in negotiations, in particular with the FCPF (Forest Carbon Partnership Facility), in particular on the question of the place of local actors in the redistribution of the profits of future transactions. Madagascar the 4th African country to cross this milestone.