Ivory Coast has unveiled an ambitious plan to tackle deforestation and restore its natural landscapes by leveraging carbon credits as a financing mechanism. The country, which has lost nearly 80% of its forest cover since 1960, is embarking on a journey to replenish its environmental heritage.
As part of this initiative, Ivory Coast is set to privatize its first classified forest in Haut-Sassandra for a period of fifty years.
By tapping into the private sector’s interest in carbon credits, the nation aims to reforest 100,000 hectares of land with the support of companies like Agro-Map and aDryada.
The Karidja project, spearheaded by these technical and financial operators, is projected to remove one million tonnes of CO2 from the atmosphere annually.
It is argued that, this promising endeavor not only promises significant environmental benefits but also presents a sustainable financing model, with proceeds from carbon credit sales being reinvested back into the reforestation initiative.
