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Title: Oil companies and banks will profit from UN forest protection scheme
Post by: Optimus on November 30, 2010, 01:56:34 pm
Oil companies and banks will profit from UN forest protection scheme
Redd scheme designed to prevent deforestation but critics call it 'privatisation' of natural resources


    * John Vidal, environment editor, in Cancun
    * guardian.co.uk, Sunday 28 November 2010 19.58 GMT

Some of the world's largest oil, mining, car and gas corporations will make hundreds of millions of dollars from a UN-backed forest protection scheme, according to a new report from the Friends of the Earth International.

The group's new report – launched on the first day of the global climate summit in Cancun, Mexico, where 193 countries hope to thrash out a new agreement – is the first major assessment of the several hundred, large-scale Redd (Reduced emissions from deforestation and degradation) pilot schemes. It shows that banks, airlines, charitable foundations, carbon traders, conservation groups, gas companies and palm plantation companies have also scrambled into forestry protection.

While forestry is billed as one issue where significant progress could be made at the talks, over the weekend David Cameron, Chris Huhne, the climate change secretary, and the government's chief scientists all played down the prospect of a global deal to cut carbon emissions.

"British ministers are going to Mexico this week with an approach that is both realistic and optimistic," the prime minister wrote in the Observer . "Realistic, because we don't expect a global deal to be struck in Cancun, but optimistic too, because we are viewing this as a stepping stone to future agreement."

More: http://www.guardian.co.uk/environment/2010/nov/28/redd-forest-protection-banks-oil