Carbon Scam: How The Green Lobby Is Exploiting Indigenous People
Celestial Green, the Dublin carbon credits business involved in deals with indigenous tribes in the Amazon, at one stage envisaged its rights there creating credits with a value of up to $32 billion (€24 billion), according to filings to the US Securities and Exchange Commission (SEC).
A spokesman for the company said yesterday it was “surprised” that a case was being taken in Brazil against one of its deals there.
A federal attorney in the Brazilian state of Rondonia filed a lawsuit on December 11th which seeks to cancel a contract signed by Celestial Green Ventures and the Awo Xo Hwara indigenous community.
As part of the deal, the Irish company agreed to pay the local group $13 million over 30 years for the rights to explore carbon credits in an area of 260,000 hectares of rainforest.
“It is a new, dangerous and informal carbon credits market, fully speculative, lacking previously stipulated rules,” federal attorney Oberdan Rabelo de Santana said in his request for an injunction that would make the deal null.
In response to the move, Celestial said earlier this week it was temporarily suspending all its agreements with the indigenous tribes in Brazil.