BluForest describes itself as “a publicly traded carbon offsets marketing company that is setting a new standard for sustainable business in carbon offset credit trading.” BluForest owns 135,000 hectares of forest in Ecuador, “from which it will generate tradable carbon credits”.
Last month, the Government of Ecuador announced a new round of oil concessions covering a total area of almost three million hectares of indigenous peoples’ land. The area includes the territories of indigenous peoples who are involved in the government’s Socio Bosque scheme.
An international delegation of indigenous leaders from Brazil, Mexico and Ecuador is currently in California to oppose California’s proposed carbon offset scheme. The scheme could allow companies in California to meet limits on greenhouse gas emissions by buying carbon credits rather than reducing pollution at home.
In 2007, Norway announced that it would spend US$500 million a year to support REDD. But Norway has also invested US$13.7 billion in 73 companies in industry sectors that threaten forests, including oil palm, oil and gas, mining, cattle ranching, logging, pulp and paper, soy and hydropower dams.
Since October 2008, Global Witness has been working on a project called “Making the Forest Sector Transparent”. The project has recently released its 2011 Annual Transparency Report, looking at the transparency record in seven countries: Cameroon, Ghana, Liberia, Peru, Ecuador, Guatemala, and the Democratic Republic of Congo.