DR Congo Opens Oil and Gas Auction Round to Carbon Credit and Crypto Groups

Rather than drill in rainforests and peatlands, such groups would raise revenue by selling carbon credits.

• After opening 30 oil and gas exploration blocks up for auction in some of the world’s largest tropical rainforests and claiming that 'Their Priority Is Not to Save the Planet', DRC is now also opening the auction rounds to carbon credit and crypto groups. Rather than drilling in rainforests, such groups would raise revenue by selling carbon credits and be able to pay justly DR Congo for its environmental services by not destroying such carbon sinks and ecosystems.

• “If it can help our economy and the country, why not?” said Didier Budimbu, the hydrocarbons minister. “We’re not doing this to destroy the rainforest, we’re doing it for economic gain . . . With or without oil, what’s important is that we earn [money].”

Source: https://www.ft.com/content/b10a3132-1828-4b7a-8929-33de88b1df84