Carbon Scam: Noel Kempff Carbon Action Project and the Push for sub-national Forest Offsets

Publication - 15 October, 2009
Sub-prime carbon brought to you by AEP, BP and Pacificorp

Executive summary: In 1997 three energy giants, American Electric Power (AEP), BP-Amoco (BP), and Pacificorp entered into a REDD agreement with the Government of Bolivia. In return for millions of dollars of investment for the protection of an area of rainforest from logging for 30 years, they would be allocated the carbon offsets generated by keeping the trees standing. These offsets could then be bought and sold in carbon trading systems, in order to offset some of the CO2 pollution produced by these power companies.

The project resulting from this agreement is known as the Noel Kempff Climate Action Project (NKCAP). Since its establishment, it has become the most highly touted sub-national REDD project in the world. NKCAP has been showcased as a model for future subnational REDD projects and used to promote sub-national forest offset policies within the international climate talks, to members of the US Congress, and to other REDD stakeholders.

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Number of pages: 32

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