MalayMail-Nov 11

A controversial carbon trading project here involving two million hectares of Sabah’s forests is unlikely to go ahead despite reports of an agreement being signed on October 30. A source close to the deal told Malay Mail that the “Nature Conservation Agreement” (NCA) is yet to be finalized and cannot come into force due to several significant missing components in the document that was signed. Brokered by an Australian consultancy called Tierra Australia, and handled by Hoch Standard, under the Global Nature Capital name, the project is aimed at restoring Sabah’s forests and protect them from mining, logging and industrial agriculture for the next 100 to 200 years, while keeping the indigenous communities’ way of life intact. In return, this would allow the sale of credits for carbon and other ecosystem services to companies seeking to meet sustainability goals, such as reducing their carbon footprint by offsetting their emissions. The source indicated that the NCA may not be finalized because issues concerning native customary rights and previous carbon trading agreements are complex and will take some time to resolve.  Read more at:

https://www.irrawaddy.com/news/burma/myanmar-junta-to-stage-gem-fair-in-december.html