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

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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…

 

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