TV News LIES

Tuesday, Nov 21st

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...


Keystone XL pipeline wins green light in Nebraska

Keystone pipeline approved in NebraskaNebraska regulators approved the Keystone XL pipeline Monday, clearing the last big regulatory hurdle for the...

Keystone pipeline shut down after leaking 210,000 gallons of oil in South Dakota

Keystone pipeline leaks 210,000 of ooil in South Dakota TransCanada Corp.'s Keystone pipeline leaked an estimated 210,000 gallons of oil in northeastern South Dakota, the...

Trump's elephant trophy reversal comes as a surprise to administration employees, interest groups

Trump faced public and political pressure over rescinding elephant trophy banPresident Donald Trump's move late Friday night to postpone a decision to allow the import of...

NASA considers which cities will flood as ice sheets melts

NASA : NYC first to flood as Antarctic ice sheets meltAs ice sheets on Greenland and Antartica melt, which cities are most liable to flood? NASA...
 
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!