Indigenous Environmental Network and Friends of the Earth Nigeria Denounce Shell REDD Project
September 7, 2010–Oil giant Shell, infamous for the genocide of the Ogoni People and environmental destruction in Nigeria’s Niger Delta is now bankrolling REDD, a false solution to climate change that puts forests in the carbon market and has been denounced as potentially the “largest land grab of all time.”
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REDD (Reducing Emissions from Deforestation and Degradation) allows polluters like Shell, Rio Tinto and Chevron-Texaco to buy their way out of reducing their greenhouse emissions at source by supposedly conserving forests. However, according to the Indigenous Environmental Network, REDD is rife with “perverse incentives” to convert natural forests into monoculture tree plantations and to actually increase deforestation.