French President Emmanuel Macron promised 50 million euros ($52.9 million) to a new global scheme to reward countries for protecting their forests and biodiversity on Thursday as he called for more concrete action on global climate commitments.
The pledge was announced at the end of the two-day One Forest Summit in Gabon that aimed to assess progress made since last year's COP27 climate conference and renew targets for the preservation and sustainable management of the world's forests.
"We understood the need to have cash on the table and concrete actions," Macron said in a speech on the first full day of a four-nation Africa tour. The funding from France is part of a joint 100 million-euro commitment to kickstart a mechanism that aims to reward countries that are scientifically proven to have protected their forests or restored them.
Macron said the scheme would be underpinned by research to improve the understanding of forests' value by mapping carbon reserves, biodiversity and levels of carbon sequestration in the Amazon, Africa and Asia.
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