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World Bank: “Miombo Forest Helps Boost Economy Through Carbon Market”

World Bank: “Miombo Forest Helps Boost Economy Through Carbon Market”

Miombo woodland is the largest biome in southern and central Africa, covering an area of 2.7 million square kilometres and spanning several countries, and is one of the most important ecosystems in the world.

In this regard, the World Bank (WB) has reiterated greater conservation of it, as it plays an important role for the economy and social development, as it harbours much of the terrestrial biodiversity of the Southern African Development Community (SADC) region and provides shelter for endangered species.

Speaking at a meeting to operationalise the Maputo Declaration on Sustainable and Integrated Management of miombo woodlands, WB envoy to the event, Lizandro Navael, said all parties must be committed to protecting the forest as it plays a vital role in the climate change mitigation process and the carbon market.

“The forest is the main source of fresh water, food, energy, timber, tourism and much more. It promotes biodiversity conservation and helps stimulate the economy through the carbon market, which has gained notoriety in recent years,” he said.

The official emphasised that the institution he represents has increased its support to the Government of Mozambique in the last ten years for the implementation of various projects to promote sustainable management of natural resources, renewable energy and forests.

“We are committed to monitoring and supporting African governments to seek more funding to implement sustainable projects,” he said.

In Mozambique, miombo represents about two-thirds of the forest area stretching from northern Gaza province to the Rovuma River. In socio-economic terms, it benefits, directly or indirectly, about 300 million people at the SADC level, through the exploitation of mineral, forestry, agricultural, fishing, energy, tourism resources, among others.

In August 2022, Southern African leaders signed the Maputo Declaration for the protection and conservation of miombo woodland ecosystems in the region, an instrument that promotes “joint and integrated actions for the recovery and management” of the resources.

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The two-day meeting (27 and 28 July) is taking place in Maputo city and is attended by members of the Mozambican government, national forest directors from 11 countries that adopted the Declaration, cooperation partners, members of the Miombo Network and members of the Southern African Development Community secretariat

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