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One Forest Summit: France pledges €100 million for tropical forests

France, along with two non-profit organisations, pledged a total of €100 million towards an action plan designed to protect the world's tropical forests. President Emmanuel Macron made the announcement at the One Forest Summit, a two-day conference held in Gabon that aimed to evaluate progress since last year's COP27 climate conference. On this occasion, he also discussed new targets for the preservation and sustainable management of the world's forests. 

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President Macron emphasised the need for concrete actions and funding. He explained that the contributions from France, the Walton Foundation (€20 million), and Conservation International (€30 million) would help launch a mechanism to reward countries that can prove they have protected or restored their forests.

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The plan is based on research to improve the understanding of the value of forests, including mapping carbon reserves, biodiversity, and levels of carbon sequestration in the Amazon, Africa, and Asia. As part of the plan, Macron noted that countries like Gabon, which manage large areas of pristine forests, should be compensated better than countries that have deforested and are now planting new trees. 

Central African countries like Gabon have a critical role to play in managing the world's second-largest rainforest—the Congo Basin Rainforest—which stores more carbon per hectare than the Amazon, regulates temperatures, and generates rain for areas inhabited by millions of people.

At the close of the summit, Gabonese President, Ali Bongo, expressed satisfaction with the conference’s outcome, stating that a sound plan had been put in place to make COP28 a success. 

As COP28 approaches, it is encouraging to see actors in the field crafting concrete action plans to preserve the world's tropical forests. DGB Group, a large-scale developer of nature-restoration projects, supports and stands behind solutions that support nature’s prosperity.

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