Ecuador has abandoned its plans to leave the oil where it belongs under the Yasuní National Park. Ecuador was asking for US$3.6 billion, or half the market value of the 850 million barrels of oil in the Ishpingo-Tambococha-Tiputini (ITT) oil field below Yasuní. Last week, Ecuador’s president Rafael Correa cancelled the plan and announced that…
Friends of the Earth calls for an open review of the Kalimantan Forest Carbon Partnership
Friends of the Earth Australia has written to the Australian Government calling for “an open review of its failed experiment in climate aid in Central Kalimantan, Indonesia”. The Australian-funded Kalimantan Forest Carbon Partnership was quietly shelved earlier this year.
BluForest Inc to pre-sell carbon credits from REDD project in Ecuador to non-existent UK company
BluForest Inc claims to be setting up REDD projects in Ecuador. It plans to generate carbon credits from 105,000 hectares of land in Ecuador.
Baron Traders Ltd: Another scam company offering carbon credits as investments
In November 2011, Richard Smith exposed a carbon credit scam company called Validated Carbon Credits in the blog Naked Capitalism. Validated Carbon Credits has since gone, but its parent company, Baron Traders Ltd is still selling carbon credits.
Questions for Lotus F1 about carbon credits and Advanced Global Trading
By Chris Lang Since 2012, the Lotus Formula 1 Team claims to be “targeting carbon neutral status”. It is doing so with the help of Advanced Global Trading – a Dubai-based company selling carbon credits as investments.