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The darker shade of green: When carbon markets meet poor governance

Weak rule of law, conflicts of interest, and high verification costs make Asia’s emerging carbon economy a conduit for shady deals

Kelly Ng
Published Fri, Jun 17, 2022 · 02:00 PM

LAST October, Sabah state officials inked a controversial US$80 billion carbon trading deal that claims to safeguard over 2 million hectares of jungle in the Malaysian state from logging for the next century. Non-governmental organisations and journalists, however, raised many red flags, including how a significant proportion of the revenue was to go to a shell company in Singapore with no history in carbon trading.

Back in 2012, Cambodian rainforest activist Chut Wutty was…

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