DRC – USA: $1 billion for carbon capture?

By Jeune Afrique
Posted on Thursday, 5 May 2022 11:35

A muddy road is seen near town of Mobwalu in Ituri province, eastern Democratic Republic of Congo, April 6, 2018. Picture taken April 6, 2018. REUTERS/Goran Tomasevic

A $1bn carbon credit scheme by US investors linked to the forests of the Democratic Republic of Congo is the latest sign of growing ties between the administrations of DRC President Félix Tshisekedi and President Joe Biden.

While a new partnership between Kinshasa and the Central African Forest Initiative is being worked out, another agreement is the subject of difficult negotiations between the Congolese environment ministry and the US company dClimate.

The DRC’s General Finance Inspectorate (IGF) recently drew up a damning report on the management of Congolese forest concessions. Nevertheless, the local timber sector continues to attract great interest from international partners as well as from private companies.