The world's second largest expanse of tropical forest will benefit from the conservation activities of a new financial mechanism: The Congo Basin Forest Fund (CBFF) was launched at the highly attended June 17, 2008 event in London. The rainforest, known as the "world's second lung", not only helps to regulate global climate, but also provides food, shelter and livelihoods for 50 million people. The CBFF, with a £100 million initial grant from the British and Norwegian Governments, will help communities manage their forests, find sustainable livelihoods that aid forest conservation and reduce deforestation rates.



The CBFF will be managed by the African Development Bank in partnership with the 10-member States of the Central African Forests Commission (COMIFAC) and run by a Governing Council co-chaired by Nobel Peace Prize Winner Wangari Maathai and Rt. Hon Paul Martin, Former Canadian Prime Minister. In response to the significant effects of climate change in Africa, Dr. Maathai said "We have been calling for carbon justice by working with the countries who have contributed to assist the countries that are going to suffer the effects. We have to meet each other half way to deal with a difficult crisis that we all face".



Thus, the Fund is part of a coordinated international effort to include forest conservation into a larger framework of global climate protection activities. The CBFF will finance innovative community conservation projects within COMIFAC's Action Plan, over a ten year period up to 2018. The Fund encourages and depends upon long term collaboration between civil society, governments and the private sector.



Among the concerns regarding the Fund's work are the rampant corruption in the Congo Basin area and the future financial contributions from member countries. Nevertheless, given the estimates that over two thirds of the Congo Basin rainforest will be destroyed by 2040, the CBFF provides a hopeful and truly necessary mechanism for local conservation with global ramifications. (Irina Comardicea)



For more information on the Congo Basin Forest Fund please visit: http://www.cbf-fund.org/index.php

To find out more about the Congo Basin Forest Partnership please see: http://www.cbfp.nyanet.de/cms/index.php/home.html

 

Published in: ECC-Newsletter, August 2008