At a meeting last month organised by the Forest Stewardship Council, HSBC’s Francis Sullivan said that if a company doesn’t pass the bank’s sustainability risk tests, then it won’t get a loan.
Tag: Financing REDD
Carbon trading is “A con man’s dream”
Carbon cowboys. VAT carousel fraud. Double-counting. Hackers. A fake bomb scare in the Czech Republic’s carbon registry. Phishing via fake carbon registry websites. Invented carbon credits. Overvalued carbon credits. Boiler rooms. Imaginary baselines. Auditors with conflicts of interest.
Carbon markets are not providing “long-term, scaled-up, predictable, new and additional finance”
Two stories about the current failure of carbon trading as a way of raising money to address climate change: First, the Adaptation Fund, which has seen its income from a tax on carbon credits dry up; Second, an exchange between Conservation International and the World Bank, which are both pro-carbon trading, but only one seems…
Opposition to REDD in California’s cap-and-trade scheme continues
The debate about whether REDD credits should be included in California’s cap-and-trade scheme continues. This week, a group of social and environmental NGOs wrote to Jerry Brown, California’s governor, opposing REDD and requesting a meeting with Brown and Mary D. Nichols, the Chair of the California Air Resources Board.
Almost half of Norway’s climate and forest aid remains unspent
In 2007, at the UN climate negotiations in Bali, Norway’s Prime Minister Jens Stoltenberg announced his ambitious plans to save tropical forests. Six years later, Norway has disbursed more than US$1.4 billion but almost half of that remains unspent.