New report uncovers Congo Basin’s hidden $23 trillion untapped green goldmine.
The report, Congo Basin Forest Ecosystem Accounts, found that the value of ecosystem services nearly doubled between 2000 and 2020, from $590 billion to $1.15 trillion, while the total forest asset value surged to $23.2 trillion.
Despite this enormous potential, local governments earned just $8 billion in benefits in 2020, mostly from timber, bushmeat, wild foods, and ecotourism.
“These forests, managed sustainably, can serve as powerful engines for sustainable development, contributing to job creation, climate-smart growth, and stronger local economies,” said Ousmane Diagana, World Bank Vice President for Western and Central Africa.
Spanning six African nations, the Congo Basin forms the world’s second-largest tropical rainforest after the Amazon. But its management varies widely.
Gabon and the Republic of Congo are leading in embedding sustainability into national policy, while Cameroon and Equatorial Guinea are working to strengthen governance.
Meanwhile, the Democratic Republic of Congo and the Central African Republic face mounting pressure from informal logging, mining, and agricultural expansion.
The World Bank called for integrating forest assets into macroeconomic planning and expanding climate finance, positioning the Congo Basin as a critical frontier for green growth, and a potential model for Africa’s climate-driven development future.
Source: Africabusinessinsder