Connect with us

SPECIAL REPORTS AND PROJECTS

Banks opt out of oil pipeline funding

Published

on

A map showing the Hoima-Tanga oil pipeline route.

The $3.5b East Africa Crude Oil Pipeline (EACOP) project could run into trouble after some international commercial banks withdrew from funding the construction of the world’s longest heated crude oil pipeline proposed by French Oil Company Total and the China National Offshore Oil Corporation (CNOOC).

“The banks provided statements making it clear they will not support the East Africa Crude Oil Pipeline [EACOP]after an open letter endorsed by 263 organisations from around the world was sent to 25 banks considered most likely to be approached for financing,” a March 18 press release from Inclusive Development International, read in part.

“Barclays does not intend to participate in the financing of the East African Crude Oil Pipeline project,” it further read.

Credit Suisse is also said to share the same position with Barclays.

On this, an alliance of African and international environmental and human rights organisations have claimed another win in their campaign to stop the construction of the oil pipeline.

Bank Track, which is among these organisations, raised the red flag over alleged ignored social and environmental concerns along with the project.

“The EACOP is manifestly incompatible with global efforts to reduce our carbon emissions. Banks simply can’t have it both ways – you can’t claim to be serious about climate change and support climate-destroying projects like the EACOP,” Mr Ryan Brightwell, the Researcher and Editor at BankTrack, said.

When Daily Monitor asked Mr Brightwell about the authenticity of the quoted bank statements in their release, responded in an email, “the banks provided the statements to us, with permission for us to publish them on the stopeacop.net website: https://www.stopeacop.net/banks-checklist. If you wish to confirm these statements with the banks themselves or seek further comment from them, may I suggest you contact their press offices.”

Daily Monitor sought confirmation from Credit Suisse through the Media Relations, Credit Suisse Group in Zurich, Switzerland, both on email and phone calls. “Thanks for reaching out. I can confirm: Credit Suisse is not considering participating in the EACOP project. Kind regards,” Mr Yannick Orto, the Credit Suisse Services Ag Group External Communications in Zürich, responded.

Mr Orto said as a bank policy, they will not give the reason why they are not supporting the EACOP and advised everyone to only use their “public statement” .

Daily Monitor could not reach Barclays Bank through its corporate and investment contacts as provided on the bank’s website for press and media. Our  calls could not be answered by the bank and the voice mail message left was not returned.

However, the bank is quoted on the #STOPEACOP campaign: “Barclays does not intend to participate in the financing of the East African Crude Oil Pipeline project” as its public statement.

“Besides climate and environmental risks, our field investigations reveal serious human rights violations already caused by EACOP, with tens of thousands of people deprived of their livelihoods before having received any compensation. We call on French banks to commit themselves quickly and publicly not to finance this project,” Juliette Renaud, the senior campaigner at Friends of the Earth France, said.

It is, however, not clear whether the banks’ refusal to finance the project is related to the environment. Mr Samuel Okulony, the chief executive officer of the Uganda-based Environment Governance Institute, said the next 10 years will be critical for efforts to mitigate the severity of climate change and that the pipeline will generate an additional 34 million tonnes of carbon emissions each year, which is disastrous.

Mr David Pred, the executive director of Inclusive Development International, said it would be a significant blow to the project if Standard Bank was to walk away, given the key role it has played as a financial advisor in arranging the $2.5 billion project loan that is required to finance construction.

“Any credible assessment would find that this project is too risky for the millions of people whose water resources it would jeopardise and for our rapidly warming climate, which simply cannot afford another massive oil project,” Mr Pred said.

Affected persons

The environmental and rights activists say the project stretching nearly 1,445 kms threatens to displace families and farmers and would pose risk to water resources and wetlands – including the Lake Victoria basin, which more than 40 million people rely on.

According to a report released by Oxfam International in September 2020 titled ‘‘empty promises down the line’’ a human rights impact assessment on the EACOP, approximately 200 households will be relocated.

The report adds that an estimated 3,200 to 3,500 households will be economically displaced, meaning they will lose land whereas in Tanzania, 391 households will lose land as part of the priority areas and 9,122 will lose land for the pipeline right of way.

Oil companies, govt respond

Both the oil companies and government have been slow to comment.

Ms Linda Nabirye, the external communications coordinator for Total E&P Uganda, referred us to their March 8 press release that responds to some issues raised by the banks and the NGOs.

The release titled: “Uganda and Tanzania: Total acts in transparency on social and environmental stakes of the Lake Albert resources development project,” said the projects Tilenga in Uganda and the EACOP in Uganda and Tanzania “are undertaken in a sensitive environmental context and require the implementation of land acquisition programmes with a specific attention to respecting the rights of the communities concerned.”

Total says environmental and social impact assessment (ESIA) studies have been conducted and approved by the Ugandan and Tanzanian authorities for both projects, which are carried out in compliance with the stringent performance standards of the International Finance Corporation (IFC).

Total also said it would work closely with Uganda Wildlife Authority and with IUCN experts to integrate the best practices for the protection of chimpanzees, particularly by promoting the conservation of forest habitats.

Ms Amina Bukenya, the spokesperson for CNOOC, asked us to send questions on her email which she had not responded to by press time.

On the government side, Ms Stella Amony, the communications lead for EACOP, replied: “The matter is sensitive and needs a collective response from the joint venture members.”

Ms Angella Karisa Ambaho, the communications Officer of Uganda National Oil Company (UNOC) said: “I am still waiting for approval of my response to your questions you raised on email, which I shared with my superiors”.

Established in 2013, UNOC is mandated to hold 15 per cent of Uganda’s petroleum licences on behalf of the government.

Local NGOs take on the issue

Africa Institute for Energy Governance (AFIEGO), a registered public policy research and advocacy organisation whose main objectives is to promote environmental conservation and community rights in the extractives sector, said the banks turning down requests to finance CNOOC and Total is a signal to other financiers to  consider their .

“….Climate change, environmental and social risks of the project are immense and when banks see other financial institutions taking a step back and refusing to finance the project, they also re-assess their participation,” Ms Diana Nabiruma, the senior communications officer at AFIEGO, said.

Mr Brian Nahamya, a programmes associate at Global Rights Alert, an NGO involved in advocacy for the oil pipeline PAPs, said the land acquisition was done but no project affected person has received compensation since the end of the valuation process in 2018/2019.

‘‘…Every person affected by this project from Hoima to Rakai, no one has received compensation up to date,” he said.

Holes poked on EACOP Environmental remedies

Despite the National Environment Management Authority (Nema) issuing a certificate of approval to Total East Africa for an Environmental and Social Impact Assessment (ESIA) as required by law on such a project in 2019, other international environmentalists have poked holes in it.

Section 3.3 of the Netherlands Commission for Environmental Assessment (NCEA)  report on water and wetlands crossings and water use contends that “The ESIA does not make clear why open trench river crossings are chosen as the way to go. This is critical as major rivers typically come together with wide wetlands.”

The oil pipeline route

In Uganda, the oil pipeline will traverse through Hoima, Kikuube, Kakumiro, Mubende, Kyankwanzi, Gomba, Rakai, Lwengo, Kyotera, and Sembabule districts.

According to the East Africa Crude Oil Pipeline Environment and Impact Assessment Report 2019, the pipeline will originate from Kabaale, Hoima District and snake through different communities for a distance of 296km before it approaches the Uganda-Tanzanian border.

About the project

The East African Crude Oil Pipeline (EACOP) is a proposed 1,445km-pipeline that will transport oil from Hoima in Uganda to Tanga port in Tanzania.

About 1.7 billion barrels of recoverable oil have been discovered in the Albertine Graben, the basin of Lake Albert, on the border between Uganda and DR Congo. The extraction will take place at two oil fields: the Kingfisher field, operated by China National Offshore Oil Corporation (CNOOC) and the Tilenga field, operated by Total S.A.

In September 2020 both Tanzania and Uganda agreed on the $3.5b oil pipeline project after years of discussing the relative merits of different routes out to the Indian Ocean.

Work was scheduled to start by the end of 2020 but the Covid-19 pandemic delayed the project. Tanzania says the project will create 10,000 jobs and that more than 90,000 people would be compensated to pave the way for the pipeline.

The oil will be partly refined in Uganda to supply the local market and partly exported to the international market via the EACOP.  The project is being implemented by a joint venture of oil companies operating in the Albertine Graben including CNOOC and Total and Uganda government through the Uganda National Oil Company and Tanzania Petroleum Development Corporation.

Original Source: Daily monitor

SPECIAL REPORTS AND PROJECTS

‘Left to suffer’: Kenyan villagers take on Bamburi Cement over assaults, dog attacks

Published

on

  • The victims are aged between 24 and 60, and one of them has since passed on.
  • Many were severely injured and hospitalized following brutal attacks, unlawful detention, and physical assault by Bamburi’s security personnel.

Editor’s note: Read the petition here.


Their hopes for justice seemed to be slipping away after initially taking on a multinational corporation and failing to hold it accountable for the brutal injuries they suffered.

The death of one of their own cast a shadow of despair, making it seem unlikely that they would ever bring the corporation to justice for the crimes they alleged.

However, 11 victims of dog attacks, assaults, and other severe human rights violations are now challenging Bamburi Cement PLC’s role in these abuses in court.

They are represented by the Kenya Human Rights Commission (KHRC), which on January 29, 2025, filed a legal claim before a constitutional court in Kenya, seeking to hold the multinational accountable for the harm suffered by the victims—residents of land parcels in Kwale that Bamburi claims ownership of. KHRC worked with the Kwale Mining Alliance (KMA) to bring this case.

The victims, aged between 24 and 60, include Mohamed Salim Mwakongoa, Ali Said, Abdalla Suleiman, Hamadi Jumadari, Abdalla Mohammed, and Omari Mbwana Bahakanda. Others are Shee Said Mbimbi, Omar Mohamed, Omar Ali Kalendi (deceased), Abdalla Jumadari, and Bakari Nuri Kassim.

Bamburi had hired a private security firm and deployed General Service Unit (GSU) officers to guard three adjoining land parcels, covering approximately 1,400 acres in Denyenye, Kwale. The GSU established a camp on the land, which has historically been accessed by residents who have long used established routes to reach the forest and the Indian Ocean.

For decades, these routes provided them with access to resources such as firewood, crops, and fish, which they relied on for their livelihoods. However, five years ago, when they attempted to collect firewood, harvest crops, and access the ocean through the land, Bamburi accused them of trespassing. The company’s private guards and GSU officers responded with force, setting dogs on them and assaulting them.

Many were severely injured and hospitalized following brutal attacks, unlawful detention, and physical assault by Bamburi’s security personnel. These incidents occurred despite the lack of clearly defined boundaries and the fact that the traditional access routes had never been contested.

According to the petition, GSU officers and private guards inflicted serious injuries by kicking, punching, and beating the victims with batons. Those who were arrested were neither taken to a police station nor charged with any offense. Despite their injuries, they were denied emergency medical care.

These actions were intended to intimidate residents, prevent them from accessing the beach, and suppress any historical claims to the land, the victims tell the court. Local police in Kwale failed to investigate the abuses, visit the crime scenes, or arrest any of the perpetrators, they add.

Now, the victims are seeking compensation for these violations. They have also asked the court to declare that their rights were violated through torture inflicted by Bamburi’s guards and GSU officers. Additionally, they want the court to rule that releasing guard dogs to attack them during arrests constituted an extreme and unlawful use of force.

Source: khrc.or.ke

Continue Reading

SPECIAL REPORTS AND PROJECTS

River ‘dies’ after massive acidic waste spill at Chinese-owned copper mine

Published

on

A catastrophic acid spill from a Chinese-owned copper mine in Zambia has contaminated a major river, sparking fears of long-term environmental damage and potential harm to millions of people.

The spill, which occurred on February 18, has sent shockwaves through the southern African nation.

Investigators from the Engineering Institution of Zambia revealed that the incident stemmed from the collapse of a tailings dam at the mine.

This dam, designed to contain acidic waste, released an estimated 50 million litres of toxic material into a stream feeding the Kafue River, Zambia’s most important waterway.

The waste is a dangerous cocktail of concentrated acid, dissolved solids, and heavy metals.

The Kafue River, stretching over 930 miles (1,500 kilometres) through the heart of Zambia, supports a vast ecosystem and provides water for millions. The contamination has already been detected at least 60 miles downstream from the spill site, raising serious concerns about the long-term impact on both human populations and wildlife.

Environmental activist Chilekwa Mumba, working in Zambia’s Copperbelt Province, described the incident as “an environmental disaster really of catastrophic consequences”.

The spill underscores the risks associated with mining, particularly in a region where China holds significant influence over the copper industry.

Zambia ranks among the world’s top 10 copper producers, a metal crucial for manufacturing smartphones and other technologies.

Zambian President Hakainde Hichilema has appealed for expert assistance to address the crisis. The full extent of the environmental damage is still being assessed.

The tailing dam has breached, pouring millions of litres of acidic waste into the river

The tailing dam has breached, pouring millions of litres of acidic waste into the river (AP)

A river died overnight

An Associated Press reporter visited parts of the Kafue River, where dead fish could be seen washing up on the banks about 60 miles downstream from the mine run by Sino-Metals Leach Zambia, which is majority owned by the state-run China Nonferrous Metals Industry Group.

The Ministry of Water Development and Sanitation said the “devastating consequences” also included the destruction of crops along the river’s banks. Authorities are concerned that ground water will be contaminated as the mining waste seeps into the earth or is carried to other areas.

“Prior to February 18 this was a vibrant and alive river,” said Sean Cornelius, who lives near the Kafue and said fish died and birdlife near him disappeared almost immediately.

“Now everything is dead, it’s like a totally dead river. Unbelievable. Overnight, this river died.”

About 60 per cent of Zambia’s 20 million people live in the Kafue River basin and depend on it in some way as a source of fishing, irrigation for agriculture and water for industry. The river supplies drinking water to about five million people, including in the capital, Lusaka.

The acid leak at the mine caused a complete shutdown of the water supply to the nearby city of Kitwe, home to an estimated 700,000 people.

Dead fish in the river following the dam breach

Dead fish in the river following the dam breach (AP)

Attempts to roll back the damage

The Zambian government has deployed the air force to drop hundreds of tons of lime into the river in an attempt to counteract the acid and roll back the damage. Speed boats have also been used to ride up and down the river, applying lime.

Government spokesperson Cornelius Mweetwa said the situation was very serious and Sino-Metals Leach Zambia would bear the costs of the cleanup operation.

Zhang Peiwen, the chairman of Sino-Metals Leach Zambia, met with government ministers this week and apologized for the acid spill, according to a transcript of his speech at the meeting released by his company.

“This disaster has rung a big alarm for Sino-Metals Leach and the mining industry,” he said.

It “will go all out to restore the affected environment as quickly as possible”, he said.

The entrance to the Sino-Metals Leach Zambia mine

The entrance to the Sino-Metals Leach Zambia mine (AP)

Discontent with Chinese presence

The environmental impact of China’s large mining interests in mineral-rich parts of Africa, which include Zambia’s neighbors Congo and Zimbabwe, has often been criticised, even as the minerals are crucial to the countries’ economies.

Chinese-owned copper mines have been accused of ignoring safety, labour and other regulations in Zambia as they strive to control its supply of the critical mineral, leading to some discontent with their presence.

Zambia is also burdened with more than $4 billion in debt to China and had to restructure some of its loans from China and other nations after defaulting on repayments in 2020.

A smaller acid waste leak from another Chinese-owned mine in Zambia’s copper belt was discovered days after the Sino-Metals accident, and authorities have accused the smaller mine of attempting to hide it.

Local police said a mine worker died at that second mine after falling into acid and alleged that the mine continued to operate after being instructed to stop its operations by authorities. Two Chinese mine managers have been arrested, police said.

Both mines have now halted their operations after orders from Zambian authorities, while many Zambians are angry.

“It really just brings out the negligence that some investors actually have when it comes to environmental protection,” said Mweene Himwinga, an environmental engineer who attended the meeting involving Mr Zhang, government ministers, and others.

“They don’t seem to have any concern at all, any regard at all. And I think it’s really worrying because at the end of the day, we as Zambian people, (it’s) the only land we have.”

Source: www.independent.co.uk

Continue Reading

SPECIAL REPORTS AND PROJECTS

How Carbon Markets are Exploiting Marginalised Communities in the Global South Instead of Uplifting them

Published

on

The billion-dollar fiction of carbon offsets

Carbon markets are turning indigenous farming practices into corporate profit, leaving communities empty-handed.

For Janni Mithula, 42, a resident of the Thotavalasa village in Andhra Pradesh, cultivating the rich, red soil of the valley was her livelihood. On her small patch of land grow with coffee and mango trees, planted over decades with tireless care and ancestral knowledge. Yet, once a source of pride and sustainability, the meaning of these trees has been quietly redefined in ways she never agreed to.

Over a decade ago, more than 333 villages in the valley began receiving free saplings from the Naandi Foundation as part of a large-scale afforestation initiative funded by a French entity, Livelihoods Funds. Unbeknownst to Janni and her neighbours, these trees had transfigured into commodities in a global carbon market, their branches reaching far beyond the valley to corporate boardrooms, their roots tethered not to the soil of sustenance but to the ledger of profit and carbon offsets.

The project claims that it would offset nearly 1.6 million tonnes of carbon dioxide equivalent over two decades. On paper, it is a triumph for global climate efforts. In reality, the residents’ lives have seen little improvement. While the sale of carbon credits has reportedly fetched millions of dollars for developers, Janni’s rewards have been minimal: a few saplings, occasional training sessions, and the obligation to care for trees that she no longer fully owns. These invisible transactions pose a grave risk to marginalised communities, who practice sustainable agriculture out of necessity rather than trend.

Also Read | COP29: The $300 billion climate finance deal is an optical illusion

The very systems that could uplift them—carbon markets intended to fund sustainability—end up exploiting their resources without addressing their needs.

Earlier this year, the Centre for Science and Environment (CSE) and Down To Earth (DTE) released a joint investigative report on the functioning of the voluntary carbon market in India. The report critically analysed the impacts of the new-age climate solution, its efficacy in reducing carbon emissions, and how it affected the communities involved in the schemes.

The findings highlighted systemic opacity, with key details about the projects, prices, and beneficiaries concealed under confidentiality clauses. Developers also tended to overestimate their emission reductions while failing to provide local communities with meaningful compensation. The report stated that the main beneficiaries of these projects were the project developers, auditors and companies that make a profit out of the carbon trading system.

Carbon markets: The evolution

On December 11, 1997, the parties to the United Nations Framework Convention on Climate Change (UNFCC) convened and adopted the Kyoto Protocol with the exigence of the climate crisis bearing down on the world. The Kyoto Protocol, revered for its epochal impact on global climate policy, focused on controlling the emissions of prime anthropogenic greenhouse gases (GHGs). One of the key mechanisms introduced was the “Clean Development Mechanism”, which would allow developed countries to invest in emission reduction projects in developing countries. In exchange, the developed countries would receive certified emission reduction (CER) credits, or carbon credits as they are commonly known.

One carbon credit represents the reduction or removal of one tonne of CO2. Governments create and enforce rules for carbon markets by setting emission caps and monitoring compliance with the help of third-party organisations. For example, the European Union Emissions Trading System (EU-ETS) sets an overall cap on emissions and allocates allowances to industries. A financial penalty system was also put in place to prevent verifiers and consultants from falsifying emissions data. The impact of these renewable projects is usually verified through methods such as satellite imagery or on-site audits.

Companies such as Verra and Gold Standard have seized this opportunity, leading the designing and monitoring of carbon removal projects. Governments and corporations invest in these projects to meet their own net-zero pledges. The companies then issue carbon credits to the investing entity. Verra has stated that they have issued over 1 billion carbon credits, translating into the reduction of 1 billion tonnes of greenhouse gas emissions. However, countless case studies and reports have indicated that only a small fraction of these funds reach the local communities practising sustainability.

Article 6 under the Paris Agreement further concretised and regulated the crediting mechanism to enable countries interested in setting up carbon trading schemes. However, the parties failed to reach a consensus regarding the specifics of Article 6 at COP 27 and COP 28. So, climate finance experts and policymakers were very interested in the developments taking place at the COP 29 summit in Baku, Azerbaijan. Unlike its predecessors, the COP 29 summit has seen a diminished attendee list, with major Western political leaders including Joe Biden, Ursula von der Leyen, Olaf Scholz, and Emmanuel Macron failing to make it to the summit due to the increasingly turbulent climate within their own constituencies.

From a post-colonial perspective, carbon markets have been viewed as perpetuating existing global hierarchies; wealthier countries and corporations fail to reduce their emissions and instead shift the burden of mitigation onto developing nations.

From a post-colonial perspective, carbon markets have been viewed as perpetuating existing global hierarchies; wealthier countries and corporations fail to reduce their emissions and instead shift the burden of mitigation onto developing nations. | Photo Credit: Illustration by Irfan Khan

Sceptics questioned whether this iteration of the summit would lead to any substantial decisions being passed. However, on day-two of the summit, parties reached a landmark consensus on the standards for Article 6.4 and a dynamic mechanism to update them. Mukhtar Babayev, the Minister of Ecology and Natural Resources of Azerbaijan and the COP 29 President, said: “By matching buyers and sellers efficiently, such markets could reduce the cost of implementing Nationally Determined Contributions by 250 billion dollars a year.” He added that cross-border cooperation and compromise would be vital in fighting climate change.

India has positioned itself as an advocate for the Like-Minded Developing Countries (LMDCs) group, with Naresh Pal Gangwar, India’s lead negotiator at COP 29, saying, “We are at a crucial juncture in our fight against climate change. What we decide here will enable all of us, particularly those in the Global South, to not only take ambitious mitigation action but also adapt to climate change.”

The COP 29 decision comes in light of the Indian government’s adoption of the amended Energy Conservation Act of 2022, which enabled India to set up its own carbon market. In July 2024, the Bureau of Energy Efficiency (BEE), an agency under the Ministry of Power, released a detailed report containing the rules and regulations of the Carbon Credit Trading Scheme (CCTS), India’s ambitious plan for a compliance-based carbon market. The BEE has aimed to launch India’s carbon market in 2026.

CSE’s report highlighted the challenges and possible strategies that the Indian carbon market could adopt from other carbon markets around the world. Referring to this report, Parth Kumar, a programme manager at CSE, pointed out how low carbon prices and low market liquidity would be prominent challenges that the nascent Indian market would have to tackle.

The Global South should be concerned

Following the landmark Article 6.4 decision, climate activists called out the supervisory board for the lack of discussion in the decision-making process. “Kicking off COP29 with a backdoor deal on Article 6.4 sets a poor precedent for transparency and proper governance,” said Isa Mulder, a climate finance expert at Carbon Market Watch. The hastily passed decision reflects the pressure that host countries seem to face; a monumental decision must be passed for a COP summit to be touted as a success.

The science behind carbon markets is rooted in the ability of forests, soil, and oceans to act as carbon sinks by capturing atmospheric carbon dioxide. This process is known as carbon sequestration, and it is central to afforestation and soil health restoration projects. However, the long-term efficacy and scalability of these projects have been repeatedly questioned. The normative understanding of carbon markets as a tool to mitigate climate change has also come under scrutiny recently, with many activists calling the market-driven approach disingenuous to the goals of the climate movement.

From a post-colonial perspective, carbon markets have been viewed as perpetuating existing global hierarchies; wealthier countries and corporations fail to reduce their emissions and instead shift the burden of mitigation onto developing nations. Olúfẹ́mi O. Táíwò, Professor of Philosophy at Georgetown University, said, “Climate colonialism is the deepening or expansion of foreign domination through climate initiatives that exploit poorer nations’ resources or otherwise compromises their sovereignty.” Moreover, the effects of climate change disproportionately fall on the shoulders of marginalised communities in the Global South, even though industrialised nations historically produce the bulk of emissions.

There have also been doubts surrounding the claiming process of carbon credits and whether the buyer country or the country where the project is set can count the project towards its own Nationally Determined Contributions (NDCs). Provisions under Article 6 of the Paris Agreement state that countries cannot use any emission reductions sold to another company or country towards their own emissions targets. However, this has become a widespread issue plaguing carbon markets. The EU has recently been criticised for counting carbon credits sold to corporations under the Carbon Removal Certification Framework (CRCF) towards the EU’s own NDC targets. This has led to concerns over the overestimation of the impact of mission reduction projects.

Also Read | India needs climate justice, not just targets

Carbon offset projects, additionally, alienate local communities from their land as the idea of ownership and stewardship becomes muddled with corporate plans on optimally utilising the land for these projects. For example, in 2014, Green Resources, a Norwegian company, leased more than 10,000 hectares of land in Uganda, with additional land being leased in Mozambique and Tanzania. This land was used as a part of afforestation projects to practise sustainability and alleviate poverty in the area. However, interviews conducted with local Ugandan villagers revealed that the project forcibly evicted the local population without delivering its promises to improve access to health and education for the community. These concerns highlighted how the burden of adopting sustainable practices is placed on marginalised communities.

While carbon markets are rightfully criticised, they remain a key piece of the global climate adaptation puzzle. Addressing the issues surrounding transparency and equitable benefit-sharing with local communities could lead to carbon markets having a positive impact on climate change. The system must ensure that larger corporations and countries do not merely export their emissions, but instead implement measures to reduce their own emissions over time. It is also imperative to explore other innovative strategies such as circular economy approaches and nature-based solutions that are more localised, offering hope for a just and sustainable future.

Adithya Santhosh Kumar is currently pursuing a Master’s in Engineering and Policy Analysis at the Delft University of Technology in the Netherlands.

Source: frontline.thehindu.com

Continue Reading

Resource Center

Legal Framework

READ BY CATEGORY

Facebook

Newsletter

Subscribe to Witness Radio's newsletter



Trending

Subscribe to Witness Radio's newsletter