During a speech delivered at the United Nations headquarters, President Denis Sassou-N’Guesso made a historic appeal for the creation of an International Compensation Fund for countries possessing tropical forests. This initiative, dubbed the “Climate Justice Fund,” aims to financially compensate states that preserve their forest ecosystems for the benefit of all humanity.
“The forests of the Congo Basin capture billions of tons of CO2 every year, a free ecological service for the planet, but whose economic and social cost is borne by our populations,” declared the Congolese head of state before the General Assembly. He proposed that industrialized countries, the main historical emitters, contribute 0.1% of their GDP to this fund, which would be managed transparently by a multilateral institution.
The proposal stipulates that resources be directly allocated to concrete projects: economic diversification of forest regions, development of renewable energy, environmental education, and creation of green jobs. An independent verification mechanism, involving scientists and local communities, would ensure the monitoring of commitments.
This initiative has already received public support from several African countries, as well as from Norway and France. The United Nations Secretary-General has praised it as a “pragmatic and equitable proposal” that could revive international climate negotiations.
President Sassou-N’Guesso announced that he would personally present this proposal at COP29, scheduled for November 2024 in Baku. Technical consultations with international financial and environmental experts will begin next month in Brazzaville.