A groundbreaking partnership to finance the quantification, valuation, and safeguarding of Congolese biodiversity and carbon natural assets was revealed today. The 15-year deal between Okala, the biodiversity technology company, and the Democratic Republic of the Congo’s (DRC) Minister of the Environment and Sustainable Development is set to inject US$40 million into the country to measure and value the natural capital of 12 million hectares of land – the equivalent of England.
The data collected from these regions will be used to generate high-integrity nature credits on global carbon and biodiversity markets, with conservative estimates predicting they will generate US$700 million in long-term value. Revenue generated from these credits will be shared among local communities, national parks, the DRC government, and science partners, providing funding to restore and conserve ecosystems while also bringing social and economic benefits to the local Congolese population.
Dr Whytock commented: “The Okala-DRC deal represents one of the largest combined biodiversity and carbon data partnerships in Africa between government and the private sector. As the DRC is a crucial factor in the worldwide fight against the climate crisis, this collaboration presents an unparalleled chance to address both the climate and biodiversity crisis while bringing advantages to the Congolese people and environment.”
He went on to say: “Okala’s biodiversity technology provides a transparent, traceable, and verifiable pathway between ecological data and genuine biodiversity understanding. This is essential in building trust in emerging nature markets. We are delighted to be placing Okala’s technology in the hands of Congolese experts so the DRC can use its abundant natural capital to promote economic growth.”
The agreement also involves the exploration of DRC’s peatlands, which contain three years’ worth of global carbon emissions, in the hopes of furthering the positive impact of the partnership.
Today marks a milestone in DRC’s journey to protect and benefit from its natural resources, as the Okala-DRC deal is set to unlock US$700 million of long-term value, while providing local communities with funding to restore and conserve ecosystems.
Today, a landmark partnership that will finance the measurement, valuation, and protection of Congo’s biodiversity and carbon natural assets was announced. The 15-year deal between the biodiversity tech company Okala and the Democratic Republic of the Congo’s (DRC) Minister of the Environment and Sustainable Development will see Okala invest US$40 million in the country, in order to measure and value the natural capital of 12 million hectares of land – a combined area larger than that of England.
The collected data will be used to calculate and sell high-integrity nature credits on global carbon and biodiversity markets, with conservative forecasts predicting they will generate US$700 million in long-term value. Revenue from these credits will be shared among local communities, national parks, the DRC government, and science partners, providing funding routes for ecosystem restoration and conservation, while also bringing social and economic benefits to the local Congolese people.
Dr Whytock said: “The Okala-DRC deal represents one of the largest combined biodiversity and carbon data partnerships in Africa between government and the private sector. Given the DRC’s crucial role in the global climate crisis, this partnership presents an opportunity to tackle the climate and biodiversity crisis directly while improving the lives of the Congolese.”
He added: “Okala’s biodiversity technology offers a clear, traceable, and auditable pathway between ecological data and genuine biodiversity understanding. This is vital in establishing confidence in emerging nature markets. We are proud to be putting Okala’s technology into the hands of Congolese experts so the DRC can use its natural capital to support economic development.”
The Okala-DRC agreement is set to unlock US$700 million of long-term value and provide local communities with funding to restore and conserve ecosystems. It also involves the exploration of DRC’s peatlands, which contain three years’ worth of global carbon emissions, in the hopes of maximising the positive impacts of the partnership.
Derick is an experienced reporter having held multiple senior roles for large publishers across Europe. Specialist subjects include small business and financial emerging markets.