TV News LIES

Monday, Nov 24th

Last update09:09:28 PM GMT

You are here News Environment The Forest Mafia: How Scammers Steal Millions Through Carbon Markets

The Forest Mafia: How Scammers Steal Millions Through Carbon Markets

E-mail Print PDF

Forest mafiaWhen the balding Australian first stepped off the riverboat and into the isolated pocket of northeastern Peru's Amazon jungle in 2010, he had what seemed like a noble, if quixotic, business plan.

An ambitious real estate developer, David Nilsson hoped to ink joint venture agreements with the regional government of Loreto province and the leaders of the indigenous Matses community to preserve vast thickets of the tribe's remote rainforest. Under a global carbon-trading program, he wished to sell shares of the forest's carbon credits to businesses that hope to mitigate, or offset, their air pollution.

Located a six-day ride from the frontier city of Iquitos, the jungle’s vegetation, soils, and looming trees store an immense amount of carbon dioxide—roughly one ton, the equivalent of one UN-backed carbon credit, per tree.

In an ideal scenario, this is how it's supposed to work: A community in a developing country works with an NGO or developer to design a plan to protect a large swathe of forest and thus prevent the release of the harmful chemical compound into the atmosphere, in accordance with the United Nations’ program called REDD (Reducing Emissions from Deforestation and forest Degradation). Then, it can get the emissions reductions certified by a third-party auditor and sell the resulting carbon credits to corporations in developed countries interested in reducing their own carbon footprints. (Deforestation accounts for roughly 17 percent of all global greenhouse gas emissions.)

More...

 


Most Recent Related Stories...


U.S.-China Climate Agreement Won’t Slow Warming Enough, World Bank Says

Global warmingAn agreement between the U.S. and China to curb greenhouse-gas emissions won’t slow global warming enough...

Polar bear population in parts of Alaska, Canada down by 40 percent

polar bearThe population of polar bears in parts of Alaska and northwestern Canada has declined by about...

Fracking: The Downside of the Boom

Fracking downsideIn early August 2013, Arlene Skurupey of Blacksburg, Va., got an animated call from the normally...

UN: World not close to avoiding dangerous warming

Climate changeThe world still isn't close to preventing what leaders call a dangerous level of man-made warming,...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!