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Buyer Beware on International Forest Credits
As the recent revelations about the PNG cvarbon trading scandal continue to reverberate, investors are asking, who can we trust?
CarbonEdge reported to subscribers in the edition distributed last week about those facts we were aware of in the PNG case. But now, our associate in PNG is advising that street rumours are that even more news is expected shortly.
Contrast the sometimes cavalier approach of those who are interested in buying cheap carbon credits from local land owners in developing countries with the professional approach and you might as well be comparing chalk and cheese.
As Leaf Carbon's Matt Corbett and Bob Smith outlined in their article in the second edition of CarbonEdge, there are so many risks with forest carbon credits that until you have the entire process and the outcomes right and locked down, they are more like toxic assets than genuione carbon credits. To read the Leaf Carbon contribution on this important topic, click here.
At least one international business reputattion is at risk with the current situation in PNG and perhaps more. That is unfortunate, but it might also prove to be the result of less than sufficient processes for operating in a developing country.
This reality may be no comfort for investors but for those with carbon liabilities that they need to offset, it is a timely reminder that cheap is not always what's best.
29th September 2009
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