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    • There is increasing agreement on Wall Street that the “TACO” trade is overdone and that investors should proceed with caution.
    • Calvin Klein’s Bad Bunny was a success, but it wasn’t enough to protect their profit margin from tariffs.
    • According to the analyst, Dollar General is merely “scratching the surface” after its earnings. How Dolly Parton and DoorDash are assisting.
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    Home » Dubai Firm’s Massive African Land Acquisitions Spark Indigenous Rights Concerns
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    Dubai Firm’s Massive African Land Acquisitions Spark Indigenous Rights Concerns

    April 7, 2024No Comments
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    Blue Carbon and the Government of Liberia ink strategic MoU to develop new approach to Blue Carbon projects in the country
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    In the last year, the Liberian government has authorized the sale of approximately 10% of the country’s land — amounting to 10,931 square kilometers (4,220 square miles) — to Dubai-based company Blue Carbon. The aim is to conserve forests that might otherwise be subjected to logging and agricultural activities, crucial for the livelihoods of many communities.

    Blue Carbon intends to profit from this conservation effort by selling carbon credits to polluters to offset their emissions from burning fossil fuels. While some experts question the climate benefits of this model, activists denounce it as “carbon colonialism.”

    Local activists argue that the Liberian government lacks legal authority over the land, emphasizing Indigenous land ownership acknowledged by Liberian law. However, the government struck a deal with Blue Carbon in March 2023, bypassing consultation with affected communities, raising concerns about inadequate protections.

    “There is no legal framework on carbon credits in Liberia, and so we don’t have rules and regulations to fight for ourselves as a community,” said Walley, representing the Neezuin community, potentially affected by Blue Carbon’s deal.

    Several agreements between Blue Carbon and at least five African countries could grant the company control over significant land areas on the continent. Reports from rights groups like Amnesty International and Survival International suggest that similar projects in Kenya have resulted in the eviction of Indigenous populations, leading to accusations of cultural disruption and threats to livelihoods.

    Cash-strapped African governments are enticed by such conservation initiatives for their revenue-generating potential, despite concerns about human rights abuses and transparency issues.

    Blue Carbon, founded by Emirati royal Sheikh Ahmed Dalmook Al Maktoum, has secured vast land holdings across multiple countries in Africa, including Kenya, Liberia, Tanzania, and Zambia, since its establishment in late 2022.

    In Liberia, the Blue Carbon deal faced opposition from communities and activists, leading to its suspension by the government before the presidential election. However, uncertainties remain regarding the fate of the deal under the new government.

    The effectiveness of carbon offsetting strategies is debatable, with concerns raised about the actual reduction of carbon emissions and the permanence of carbon storage in forests. Additionally, there are concerns that conservation efforts in one area may lead to deforestation elsewhere as affected communities seek alternative livelihoods.

    Overall, Blue Carbon’s ambitious land acquisitions in Africa raise serious questions about Indigenous rights, environmental impact, and transparency in conservation efforts on the continent.

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      There is increasing agreement on Wall Street that the "TACO" trade is overdone and that investors should proceed with caution.
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      Calvin Klein's Bad Bunny was a success, but it wasn't enough to protect their profit margin from tariffs.
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      According to the analyst, Dollar General is merely "scratching the surface" after its earnings. How Dolly Parton and DoorDash are assisting.

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