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 an open letter, scientists have warned about the impacts that logging the forests of the Democratic Republic of Congo would have on the planet’s climate. The scientists are concerned that a proposal to expand logging in DRC’s forests would damage the world’s largest tropical peatland – the Cuvette Centrale peatlands in the central Congo Basin.
California’s Global Warming Solutions Act of 2006 (AB 32) expires in 2020. What will replace it is the subject of intense debate in California. In recent weeks Governor Jerry Brown brought the oil industry to the negotiating table. And earlier this week, Brown and supporting legislators introduced their proposals, based on the oil industry’s wish list: AB 398 and AB 617.
Last year, four academics published a paper in Conservation Biology, with the title, “Questioning REDD+ and the future of market-based conservation”. The paper starts with this memorable line, “Increasingly, one hears furtive whispers in the halls of conservation: ‘REDD+ is dead; it’s time to cut our losses and move on.’”
A company called Koenig Rowe Campbell Alliance is cold calling people in several countries, claiming to be a wealth advisory firm established in 1978. KRC Alliance takes clients’ money and claims to invest it. The investment will need to be increased, for whatever made up reason, to reach a certain number of shares. Then, in order to receive a payout, clients have to pay a security bond. Then another. Then another.
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.
On 30 June 2017, the Securities and Exchange Commission filed a legal complaint against Renwick Haddow. The SEC alleges that Haddow fraudulently raised almost US$38 million from investors. The SEC has obtained an emergency asset freeze against Haddow and his companies named in the complaint.
California’s Global Warming Solutions Act of 2006 (AB 32) expires in 2020. California’s governor, Jerry Brown, is holding a series of closed-door negotiations with the fossil fuel industry to re-write California’s climate change policy for the period 2021 to 2030.
Since January 2017, REDD-Monitor has written a series of posts about Renwick Haddow’s latest investment scheme, Bar Works, a New York-based co-working startup company. Last week, Law360 reported that Bar Works “is now the subject of at least two lawsuits from investors who call it a multimillion-dollar Ponzi scheme”.
Earlier today, during a visit to Oslo, Brazil’s president, Michel Temer, met Norway’s prime minister, Erna Solberg. After the meeting, Solberg said, “If preliminary figures about deforestation in 2016 are confirmed, it will lead to a reduced payout in 2017.” She added that Norway’s rainforest payments to Brazil are “based on results”.