Biodiversity Offsetting
The promise to offset biodiversity destruction opens the door for corporations to obtain funding and access land which would otherwise be off limits for large-scale destruction. Promises to recreate or protect habitat of "equivalent" ecological value elsewhere is even opening up protected areas and World Heritage Sites to corporate destruction. Biodiversity offsets therefore create double destruction and exploitation, since corporations control both the territories affected by industrial activities as well as those targeted for offset projects.
This bulletin highlights threats involved in the so-called “energy transition,” and exposes its dirty secret of exponential expansion of mining in the global South as a consequence of the massive demand for “green” energy.
An oxymoron describes "a statement that seems to say two opposite things." The World Bank has a lot of experience with oxymoronic initiatives.
Australian company Base Resources was allowed to destroy the Mikea Forest as long as it established an offset project, which, in turn, would impose far-reaching restrictions on communities to access their land and forests.
Governments and transnational corporations backed up by multilateral financial institutions, together with Pacific Island nations, are racing to divide up the ocean under the narratives of so-called sustainable Blue Economy and Blue Growth, to justify its exploitation.
REDD+ has shown to be a big failure for the climate, the forests and forest peoples, but many international agencies and governments continue to support it. This article takes a look at its inability to halt deforestation and the fundamental flaws of its main initiatives.
Oil giants Eni and Shell have both recently announced plans to use trees to offset some of their ever increasing carbon emissions. On May 13th, NGOs put out a statement opposing the oil industry’s attempts to avoid its responsibility for climate breakdown.
Chiefs and leaders of indigenous peoples in Acre published a letter addressed to the governments of Germany and California, reporting that millionaire funds are coming to the state of Acre for REDD and PES payments, without transparency and benefiting few indigenous people.
While the destruction of forest territories continues, more pledges, agreements and programs are being implemented in the name of ‘addressing deforestation and climate change’.