TV News LIES

Saturday, Apr 30th

Last update05:20:13 AM 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...


Kenya burns huge pile of ivory tusks to protest poaching

Kenya burns tusks Kenya's president Saturday set fire to 105 tons of elephant ivory and more than 1 ton...

Russia's nuclear nightmare flows down radioactive river

ChernobylAt first glance, Gilani Dambaev looks like a healthy 60-year-old man and the river flowing past...

Natural gas explosion in Salem Township: Injuries reported, evacuations underway

gas explosion in SalemCrews are responding to a natural gas explosion Friday in Salem Township, Westmoreland County, where at...

Study: Oxygen drain will be apparent in oceans by 2030s

Oxygen drain on oceansClimate models suggest climate change is slowly sapping oxygen from the world's oceans. In some places,...
 
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!