International — Coal and oil companies are using forest offset projects to try and cheat the climate. Our new report Carbon Scam investigates how American Electric Power, BP and Pacificorp - all investors in the Noel Kempff Climate Action Project in Bolivia - are using the forest protection project to try and avoid reducing their own greenhouse gas emissions.
'Carbon Scam' shows how projected carbon savings are close to 90 per cent lower than originally claimed; how overall deforestation rates in Bolivia have actually increased since the project started; and how the promised benefits to local communities have come to nothing.
What is Noel Kempff?
In 1997, the three energy giants made an agreement with the Bolivian government to invest millions of dollars to expand and protect the forest in Noel Kempff national park. In return they would receive carbon credits, to buy and sell on voluntary carbon markets to offset their own CO2 emissions.
Noel Kempff is being used by the industry as the poster child for future sub-national forest offset schemes under REDD (Reduced Emissions from Deforestation and Degradation). REDD is the means by which forest protection will be included in the global climate deal to be negotiated at the UN Copenhagen Climate Summit in December.
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