A mining company presents the ABC Norte REDD project as its environmental trump card, but the Brazilian Institute of Environment and Renewable Natural Resources found problems with timber extraction within the climate compensation area — which formed the basis of a complaint filed by the Public Prosecutor’s Office against the timber company Madeireira J & Y. The territory in the Amazon region of Pará also registers deforestation, authorization for mineral exploration, and land conflicts with traditional communities.
Category: Carbon credit
Top brands buy Amazon carbon credits from suspected timber laundering scam
An analysis of two carbon credit projects in the Brazilian Amazon has found that they may be connected to illegal timber laundering. The projects belong to Ricardo Stoppe Jr., known as the biggest individual seller of carbon credits in Brazil, who has made millions of dollars selling these credits to companies like Gol Airlines, Nestlé, Toshiba, Spotify, Boeing and PwC.