Doubts Grow Over Who Will Benefit From UAE, Zimbabwe Carbon Deal

  • 📰 allafrica
  • ⏱ Reading Time:
  • 10 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 7%
  • Publisher: 99%

South Africa Headlines News

South Africa Latest News,South Africa Headlines

On 29 September, Zimbabwe granted a United Arab Emirates-based firm conservation rights over 7.5 million hectares of its forests - about 20% of the country's landmass. Under the deal, touted to be worth $1.5 billion, Blue Carbon General Trading will run forest preservation projects that will generate carbon credits to be sold on the global market.

However, a growing number of experts are increasingly sceptical that carbon offsetting schemes will benefit the climate and communities, African Arguments reports."In our view, companies are seeking an economic goldmine for themselves," said Audrey Gaughran, executive director of Centre for Research on Multinational Corporations."Carbon offsetting is an industry; it is not primarily about conservation. It is about extracting wealth from the environment.

Harare - In a landmark development for climate action, the United Arab Emirates' Blue Carbon and the Government of Zimbabwe have joined forces to pioneer forest emission reduction…

Source: News Formal (newsformal.com)

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Zimbabwe: Doubts Grow Over Who'll Benefit From UAE Carbon Deal for Fifth of ZimbabweAnalysis - Carbon credit projects may make profits for a Dubai-based firm, but experts and locals are sceptical about benefits to communities and the climate.
Source: allafrica - 🏆 1. / 99 Read more »

Zimbabwe's Kariba carbon credit project in corruption stormZimbabwe's Kariba carbon credit project in corruption storm
Source: News24 - 🏆 4. / 80 Read more »

Sexual Violence Cases Grow In Ethiopia's Amhara RegionThe Ethiopian Human Rights Commission has released a deeply troubling report, highlighting the widespread occurrence of sexual violence linked to the conflict in the Amhara region.
Source: allafrica - 🏆 1. / 99 Read more »

Who’s who in Zimbabwe President Emmerson Mnangagwa’s cabinetAmidst economic turmoil and the need for a very competent government that can implement progressive policies, Zimbabwe President Mnangagwa has appointed ministers that critics say will only serve his interests and further consolidate his power.
Source: TheAfricaReport - 🏆 29. / 55 Read more »

Zimbabwe: Rumble in Zim's Cannabis Production and Distribution WildernessOpinion - Across the breadth and width of Zimbabwe, the situation on production and distribution of cannabis is equally crooked and almost dysfunctional at the moment.
Source: allafrica - 🏆 1. / 99 Read more »

Nigeria: China, Nigeria Committed to Green, Low-Carbon DevtThe People's Republic of China and Nigeria have intensified effort in pursuing green and low-carbon development.
Source: allafrica - 🏆 1. / 99 Read more »