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What Next -- Climate Watch

Who Will Control the Green Economy?

News Release

15 December 2011
www.etcgroup.org

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Who Will Control the Green Economy?
New report on Corporate Concentration in the Life Industries

From the UN Rio+20 preparatory meetings in New York, ETC Group today launches Who Will Control the Green Economy? The 60-page report connects the dots between the climate and oil crises, new technologies and corporate power. The report warns that the world’s largest companies are riding the coattails of the “Green Economy” while gearing up for their boldest coup to-date – not just by making strategic acquisitions and tapping new markets, but also by penetrating new industrial sectors.
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The unfrackable case against carbon credits from coal fired-power plants

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Off-set carbon credits from coal-fired power plants -- doesn't that sound like nuts to begin with? Well, obviously not to everyone, as such offset credits are currently allowed within the Clean Development Mechanism (CDM) under UNFCCC. However, recent studies have delivered some serious blows to the methodologies used. Check out this report in Payal Parekh's blog that refers to an SEI study showing inflated credits by 71%, and the CDM Methodology Panel concluding 51-62% overestimation of greenhouse gas emissions from coal plants in the CDM pipeline.
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Soil carbon and carbon trading -- controversy heating up!

One of the major controversies in Durban will be the issue of soil sequestration in relation to carbon markets. The World Bank is heavily promoting the idea of linking agricultural soil sequestration to off-set carbon markets under the banner of 'climate smart agriculture'. It sees the Durban negotiations as an opportunity to open up for such a development by getting agriculture back in the texts.

An increasing number of organizations are however mobilizing against this, on the grounds of environmental integrity and climate justice. They argue that off-sets effectively opens up for increased emissions, as permanence (what happens with the carbon stored in the soils over time?), additionally (how can one know the carbon would't have been stored in the soils in any case due to e.g .government action or civil society and community efforts?), and inherent difficulties in measuring soil carbon makes the whole set-up extremely risky.

In addition, the economics is shaky, with farmers projected to only earn one or a few dollars a year, while private interests in the north gets cheap carbon credits to avoid and delay own actions to cut emissions.

At the spotlight is the Kenya Agricultural Carbon Project, run by the Swedish NGO Swedish Cooperative Centre (SCC)/Kooperation utan gränser.
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