Gabon Carbon Credits Seen Fetching as Much as $35 a Ton
Gabon’s environment minister said the country’s carbon credits may fetch $35 a token with the African country planning the release of a record 90 million credits onto the voluntary carbon market as it seeks ways to finance the conservation of its carbon-absorbing forests.
“My own ballpark would be $25 to $35,” Lee White, Gabon’s environment minister, said during a webinar on Friday. “That’s about the right price right now.”
Related Knowledge Center: Carbon capture
The federal government is investing heavily in the development of carbon capture and storage (or sequestration), which offers the enticing prospect of preventing carbon dioxide emissions produced during combustion from entering the atmosphere and contributing to climate change. But the technologies involved, while proven, remain expensive, an obstacle to widespread adoption.