New Energy
Congo’s Oil Block Sale Threatens Carbon Sinks, Forest Pact
- Congo’s proposed oil blocks overlap with biggest peatlands
- Country agreed $500 million pact with donors to protect forest
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The Democratic Republic of Congo’s plan to auction oil exploration blocks next month threatens to disrupt some of the world’s most important carbon sinks and could jeopardize a $500 million forest preservation agreement.
Some of the blocks, estimated to contain 16 billion barrels of crude reserves, overlap with the biggest tropical peatlands that cover 145,000 square kilometers (56,000 square miles) and store about 30 billion tons of carbon -- equivalent to about 82% of annual global carbon dioxide emissions. So-called carbon sinks help mitigate greenhouse-gas emissions from burning fossil fuels and other activities.