There are 226 posts tagged Carbon Credits (this is page 1 of 16).
Since May 2018, if you buy ice cream from Ben & Jerry’s Scoop Shop in Wardour Street, London, you will also buy a small part of a carbon credit. For every scoop of ice cream, a penny goes to buying carbon credits from the Cordillera Azul National Park REDD project in Peru.
A company called “NLC Partners” is contacting people who were scammed into buying carbon credits as investments. NLC Partners claims to be able to sell the carbon credits. Needless to say, this has all the hallmarks of a recovery room scam.
When a company buys REDD carbon credits to offset its continued pollution, it relies on certification organisations such as Verra (previously called Verified Carbon Standard) and the Forest Stewardship Council to prove that the project is genuine, well managed, and really does result in reduced emissions. World Rainforest Movement recently visited the state of Mato Gross, Brazil to investigate the Florestal Santa Maria REDD project. WRM’s report reveals the problems with REDD, the problems with relying on this sort of certification, and the false solution of offsetting emissions from flying.
On 10 January 2017, UK police arrested Peter Singh Virdee, a British businessman, in Heathrow airport. Virdee faced extradition to Germany accused of fraud and €125 million in unpaid VAT on sales of carbon credits.
The Kariba REDD+ Project covers an area of 784,987 hectares in four districts of northwestern Zimbabwe. The project started in July 2011, and aims to generate almost 52 million carbon credits from reduced deforestation over its 30-year project life. The project is certified under the VCS and Climate Community and Biodiversity Standard systems.
In 2011, a Swiss company called World Markets AG bought five million “carbon benefit units”. They came from the April Salumei REDD project in Papua New Guinea. World Markets sold the “carbon benefit units” at a profit of over US$5 million.
A study published in October 2017 looks at how the demands of carbon forestry interact with the needs of community-based natural resource management. The study looks at one of the oldest village-based forest reserves in Tanzania, the Duru-Haitemba Villages Land Forest Reserve, in northern Tanzania. The Forest Reserve covers a total area of 9,045 hectares.
There is no way of avoiding the fact that flying is a disaster for the climate. For individuals, there is no faster way of frying the planet. Nevertheless, international aviation is not included in the 2015 Paris Agreement. The organisation responsible under the UN system, the International Civil Aviation Organization (ICAO) has so far taken no meaningful action to reduce emissions from aviation.
In July 2017, a group of over 150 people who had been scammed into buying “carbon benefit units” got in touch with REDD-Monitor. Several London-based boiler room operations, including Industry RE, had sold them the “carbon benefit units”, supposedly as investments. Unfortunately they were worthless.
Sustainable Forestry Management Ltd was the name of a company incorporated in the Bahamas in October 1999. The company set up forestry projects and traded carbon credits. Its directors included Eric Bettelheim (Executive Chairman and General Counsel), Alan Bernstein (Chief Executive Officer), and Hugh van Cutsem (Director).
Earlier this week, “Fallguy” left a comment on REDD-Monitor. “Has anyone had dealings with Delta Financial Markets Ltd?”, Fallguy asked.
April Salumei is a REDD project in Papua New Guinea. Various companies, including Qantas, Eneco Energy Trade, and Norwegian supermarket chain Rema 1000, have bought carbon credits from the April Salumei REDD project. Should you so wish, you can buy carbon credits from the project on the USAID-funded website Stand for Trees.
For a REDD project to generate carbon credits, the project developer has to write a story about what would have happened without the project. This story, or baseline scenario, is crucial to REDD. As long as the actual deforestation is less than the deforestation in the baseline scenario, the REDD project can generate carbon credits.
On 17 July 2017, California’s Assembly and Senate voted to extend the state’s cap-and-trade legislation until 2030. AB 398, written with the help of the oil industry, passed with two-thirds majorities in both chambers. Environmental justice groups opposed the bill, because it gives away far to much to the big oil and gas companies, and does too little to address the pollution that affects vulnerable communities in California.
In January 2017, the Kelantan state government in Malaysia signed a REDD deal with a company called Climate Protectors. The REDD project covers an area of 396,000 hectares, one-quarter of the state’s land area. Under the deal, Climate Protectors would run the project for 30 years, and receive 45% of the money from the sale of carbon credits.
