Prince Charles’ offshore investment in Sustainable Forestry Management Ltd: A cautionary tale featuring conflicts of interest, a web of offshore companies, carbon credits, transfer pricing, and tax avoidance galore

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).

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Some questions for Stephen Hooper about the “carbon benefit units” sold from his April Salumei REDD project in Papua New Guinea

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.

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FAO definition must recognise that plantations are not forests!

In 2009, Nophea Sasaki and Francis Putz wrote a paper titled, “Critical need for new definitions of ‘forest’ and ‘forest degradation’ in global climate change agreements”. Their concern was that, under current definitions of forests, “great quantities of carbon and other environmental values will be lost when natural forests are severely degraded or replaced by plantations but technically remain ‘forests.’”

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