Emirati Company's Forest Carbon Deals Raise Concerns Over Transparency and Land Rights
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Blue Carbon, an Emirati company founded by a prince, is making deals with developing nations to conserve forests and sell the carbon credits, despite an unregulated market.
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The company has agreements over huge areas of land in Africa, Asia, and the Caribbean, worrying conservationists about transparency and land rights.
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Carbon markets allow nations to trade emissions reductions, but rules governing them were not set at the recent COP28 climate summit.
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Liberia put its Blue Carbon deal on hold after advocacy groups complained local communities would get too little of the proceeds.
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Kenya's president said it has "not sold one inch" of land in carbon deals, but Blue Carbon keeps announcing new agreements, including with Dominica and the Bahamas.