A little over a month ago, REDD-Monitor wrote about a company called Prestige Investment Group Limited. The company director, Lee Hales had written to REDD-Monitor explaining that he wanted to speak to people who had been scammed into buying carbon credits as investments.
In October 2014, REDD-Monitor wrote about Sterling and Bond, Voiptel International, and Velvet Assets. The companies were part of the Capital Alternatives network. The post received more than one hundred comments, some of which named the individuals involved in these and other related companies.
Over the past two weeks, the 15th session of the Permanent Forum on Indigenous Issues took place at the UN headquarters in New York. On 18 May 2016, the Indigenous Environmental Network put out a press release demanding an end to carbon offsets and REDD. It slams the Paris Agreements as “a crime against humanity and Mother Earth”.
A new report by the Forest Peoples Programme finds that “Deforestation and forest degradation have increased in the Democratic Republic of Congo (DRC) despite the government’s commitment to safeguard its forests”.
Three weeks ago, REDD-Monitor wrote a post about three carbon credit fraud suspects who are wanted in Germany for tax evasion and money laundering. On Sunday, I received an email from “AS” at Salya Group accusing me of having “wrongfully written your blog” and requesting that the post is removed.
In recent years, Papua New Guinea has handed out 5.5 million hectares of land as Special Agriculture and Business Leases. In addition, the government has issued 10 million hectares in logging concessions. The totally predictable result has been an increase in deforestation, and serious human rights abuses.
California’s Air Resources Board is planning to allow REDD offsets in its cap and trade scheme, Global Warming Solutions Act (AB 32). Friends of the Earth USA has sent out an action alert asking people in California to tell the Chair of Air Resources Board, Mary Nicholls, to reject REDD.
Green Resources is a Norwegian company that claims to be “Africa’s largest forestation company.” The company has established a total of 45,000 hectares of industrial plantations in Africa. It also generates carbon credits from its plantations.
On 13 June 2013, the European Investment Bank agreed to give up to €25 million to Athelia Climate Fund. This is the first time that the European Investment Bank has funded a European carbon fund. It is also the first time that the EIB has supported REDD, and it is doing so through a financial intermediary.