US firm to bid to turn DRC oil permits in Virunga park into conservation projects

Exclusive: company plans to sell carbon and biodiversity credits in endangered gorilla habitat and Congo basin rainforest as alternative to drilling for fossil fuels

A New York investment firm is to launch a $400m (£334m) bid for oil concessions in the Congo basin rainforest and Virunga national park with plans to turn them into conservation projects, the Guardian can reveal.

EQX Biome, a biodiversity fintech company, has sent an expression of interest to the Democratic Republic of the Congo (DRC) government for 27 oil exploration blocks put up for auction last July, some of which are in critical ecosystems.