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Sheikh Qassem: Our supporters make up more than half of Lebanon's population, and all of these people are united under the banner of protecting Lebanon, its Resistance, its people, and its integrity.
Sheikh Qassem: There will be no phased handing in of our arms. [The Israelis] must first enact the agreement before we start talking about a defensive strategy.
Sheikh Qassem: Be brave in the face of foreign pressures, and we will be by your side in this stance.
Sheikh Qassem: Stripping us of our arms is like stripping us of our very soul, and this will prompt us to show them our might.
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Sheikh Qassem: The US efforts we are seeing are aimed at sabotaging Lebanon and constitute a call for sedition.
Sheikh Qassem: If you truly want to establish sovereignty and work for Lebanon’s interests, then stop the aggression.
Sheikh Qassem: The United States, which is meddling in Lebanon, is not trustworthy but rather poses a danger to it.
Sheikh Qassem: The United States is preventing the weapons that protect the homeland.
Sheikh Qassem: The government’s latest decision [on the disarmament of the Resistance] is non-charter-based, and if the government continues down this path, it is not faithful to Lebanon’s sovereignty.

US firms turn carbon credits to ghost credits amid greenwashing fiasco

  • By Al Mayadeen English
  • Source: Agencies
  • 27 Feb 2023 16:31
  • 1 Shares
3 Min Read

Walt Disney, JP Morgan Bank, and other prominent corporations have been accused of acquiring carbon credits from forest protection projects in places where there was no threat of deforestation.

  • x
  • Aerial view showing a deforested area of the Amazonia rainforest in Labrea, Amazonas state, Brazil, on September 15, 2021. (AFP)
    View showing a deforested area of the Amazonia rainforest in Labrea, Amazonas state, Brazil, September 15, 2021 (AFP)

Planting trees and protecting tropical rainforests have become attractive tools for businesses looking to offset their carbon footprint and demonstrate their environmental commitment.

Recent scandals, however, have cast a shadow over the carbon credit sector, exposing a world filled with chances for greenwashing.

Walt Disney, JP Morgan Bank, and other prominent corporations have been accused of acquiring carbon credits from forest protection projects in places where deforestation was not genuinely a threat.

Read next: UK company heavily linked to Amazon deforestation

Separately, a business responsible for maintaining 600,000 hectares of land in the United States is said to have earned $53 million in carbon credits over the last two years despite not changing its forest management practices considerably.

None of these projects sequestered more carbon than trees would have absorbed through photosynthesis under normal conditions.

Still, firms included the resultant carbon credits in their own reduction targets, allowing them to offset emissions in the carbon accounting of their operations.

The One Forest Summit will bring together leaders and experts from around the world on March 1 and 2 in the Gabonese capital Libreville.

Co-presided by France and Gabon, the meeting will focus on developing financial instruments aimed at conserving the world's forests.

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US corporate loan delinquencies hit 8-year high: FT

Human activity is causing global temperatures to rise, and #ClimateChange now endangers every facet of human existence.
Is it too late to act on this environmental threat? #ClimateCrisis pic.twitter.com/9DfRNZH4ts

— Al Mayadeen English (@MayadeenEnglish) January 3, 2023

Carbon credits are already in widespread use. According to various estimations, the amount of tons of CO2 they represent (one credit equals one ton) might more than tenfold by 2030, reaching over two billion tons.

"The risky aspect of the carbon credit market is that it is not self-regulating," Cesar Dugast from French environmental consultancy Carbone 4 was quoted by AFP as saying.

"Everyone has an interest in maximizing the number of carbon credits. It enables the project developers to spread the total cost over a maximum number of credits, offering a lower cost to buyers."

"Even the certifiers have an interest in the proliferation of projects," he added.

It is worth noting that The Guardian, Die Zeit, and an NGO revealed, in mid-January, that more than 90% of projects certified by leading verifier Verra for forest conservation under the UN program to reduce deforestation and forest degradation (REDD+) were likely "ghost credits" that did not represent "real emissions reductions".

According to Verra's CEO, David Antonioli, "REDD projects are not some abstract concept on a piece of paper; they represent genuine projects on the ground that bring life-affirming benefits."

Paula VanLaningham, worldwide head of carbon at S&P Global, acknowledged that the price of nature-related carbon credits has plummeted since the story broke.

The disclosures regarding REDD+ initiatives have spurred a broader discussion about the entire carbon credit system.

In short, companies financing forests to offset carbon emissions is appropriate, but not as a way to avoid cutting their own emissions.

  • US companies
  • Climate change
  • deforestation
  • Walt Disney
  • JP Morgan Bank

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