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Earlier this month, Ecosystem Restoration Associates, a Canadian carbon trading company, announced a REDD-type project in the Democratic Republic of Congo. The company described the project as, “the first Forest Conservation Concession Contract awarded by the government of the DRC.”
This week, a Canadian mining company called East Asia Minerals Corporation, signed a Memorandum of Understanding to buy 50% of Carbon Conservation Pty Ltd. East Asia Minerals’ aim is simple: “Through the acquisition of a 50% equity interest in CC, the Company will develop a ‘green’ mining project which will use carbon and biodiversity offsets and the latest in environmentally friendly mining practices.”
UPDATE – 17 August 2011: On 15 August 2011, Albert George of the Amazon Reforestation Project wrote to REDD-Monitor stating that “we have severed all ties with Shift2Neutral”. read more »
In August 2010, the Rimba Raya conservation project in Central Kalimantan, Indonesia hit the headlines. “Indonesia project boosts global forest CO2 market,” Reuters reported. But there’s a catch. Two companies that are responsible for vast greenhouse gas emissions are involved in the project: Shell and Gazprom.
A Canadian company called ERA Carbon Offsets Ltd is looking to sell carbon offsets from REDD projects. The company already sells carbon offsets to Shell, which Shell uses to ensure that it can continue drilling for oil. According to the press release below, the president and CEO of the World Wildlife Fund, Carter Roberts supports this. |
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