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North and Booker on Amazongate: A Multi-Billion Dollar Cash Cow
The carbon credits scheme would make ‘green’ groups much richer, but with no lowering of overall CO2 emissions.
The WWF and other green campaign groups talking up the destruction of the Amazon rainforests are among those who stand to make billions of dollars from the scare. This “green gold-rush” involves taking control of huge tracts of rainforest supposedly to stop them being chopped down, and selling carbon credits gained from carbon dioxide emissions they claim will be “saved”.
Backed by a $30 million grant from the World Bank, the WWF has already partnered in a pilot scheme to manage 20 million acres in Brazil. If their plans get the go-ahead in Mexico at the end of the year, the forests will be worth over $60 billion in “carbon credits”, paid for by consumers in “rich” countries through their electricity bills and in increased prices for goods and services.
The prospect of a billion-dollar windfall explains the sharp reaction to the “Amazongate” scandal, in which the IPCC falsely claimed that up to 40 percent of the rainforest could be at risk from even a slight drop in rainfall.
Here, the IPCC was caught out again making unsubstantiated claims based on a WWF report. But unlike the “Glaciergate” affair where its claim that Himalayan glaciers would melt by 2035 was conceded to be an “error”, the IPCC stood firm on its Amazon claim, stating that the assertion was “correct”. What makes the difference is that there is no serious money locked into melting glaciers. Amazonian trees, however, are potentially worth billions.
In standing its ground, the IPCC was strongly supported by the WWF, and by Daniel Nepstad, a senior scientist from the US Woods Hole Research Centre. Relying on an assiduously fostered reputation as a leading expert on the effects of climate change in the Amazon rainforests, Nepstad – who works closely with the WWF – posted on the Centre’s website a personal statement endorsing “the correctness of the IPCC’s statement”. Bizarrely, his own research failed in any way to substantiate the claim.
Read more:
Christopher Booker: WWF hopes to find $60 billion growing on trees
and
Richard North: Amazongate II – Seeing REDD
July 14th, 2010 at 12:08 am
carbon credits (overall) are a scam…