The Tropical Forest Forever Facility
Larry Lohmann
One source of confusion about action on global warming following the recent UN Climate Change Conference in Belém, Brazil is a proposed new institution called the “Tropical Forest Forever Facility” (TFFF).
The TFFF claims to be a new hope for tropical forests worldwide – a historic “breakthrough” and “paradigm shift.”
Toward More Coherent Research into Transitions
Larry Lohmann
Is the phrase “a just transition to renewable energy” self-contradictory? That is, is the modern, abstract energy denoted in the phrase (and many others like it) inherently unjust and unrenewable?
Move Would Allow Company to "Leave Devastation Behind and Walk Away without Consequence"
HOMEF, Social Action Nigeria, HEDA Resource Centre and Kebetkache Women Development and Resource Centre
A proposed sale of Shell’s shares in the Shell Petroleum Development Company (SPDC) to the Renaissance consortium, alongside similar divestments by TotalEnergies and other oil companies, threatens the environmental and social well-being of the Niger Delta and its people for generations to come, warned a letter from Nigerian groups released on 16 December 2024.
Continuing Global Swindle Denounced
Durban Group for Climate Justice
In October 2004, activists representing diverse organizations and networks from around the globe came together in Durban, South Africa to strategize about the risks of the then-emerging carbon markets.
Now, after 20 years of violence, fraud, human rights abuses, ever-increasing fossil fuel burning, climate disasters, land grabs, ecological destruction and violation of the rights of Indigenous Peoples and communities located near polluters, the Durban Group for Climate Justice has been proved correct in its early warnings.
Larry Lohmann
Artificial Intelligence (AI) is playing a growing role in surveilling nature, creating and organizing data about nature conservation, and lubricating the circulation of pollution rights and other ecosystem service tokens in the international extractivist economy.
But what exactly is AI? What are its politics? What is its ecology? A presentation for a recent forum organized by the POLLEN Political Ecology Network introduces these and other questions about a phenomenon of increasing significance in the 21st century, and is now available from The Corner House upon request.
An Exchange
Simon Pirani, Larry Lohmann and David Schwartzman
A pamphlet issued by People and Nature (www.peoplenature.org) brings together contributions from three authors to a recent forum on the role of fossil fuels and the meaning of "energy" in capitalist society. The discussion emphasizes the importance of analyzing commodities, commons, class, history and physics when talking about transitions away from fossil fuels and from capitalism.
Francesco Panie interviews Larry Lohmann
Francesco Panie of the Italian environmental magazine La Nuova Ecologia interviews Larry Lohmann about how carbon markets work and why, even after 20 years of making climate change worse, they continue to befuddle many environmentalists and professors.
Calor, Tiempo y Colonialismo
Larry Lohmann
Climate movements and energy transition movements customarily ask how energy might be generated and distributed more justly or democratically. Or how it might be made “green” or “renewable”. But one thing they usually don’t talk about is whether energy itself is unjust and undemocratic. And whether energy itself is anti-ecological.
Larry Lohmann
Confronting the novelist Penelope Fitzgerald’s subtleties of style and construction, critics and other readers often resort to phrases like “distillation,” “economy,” “tamped-down force,” “muted power,” “the unsaid speaks,” “magical” and “how is it done?” But the brimming sense of life that Fitzgerald shares in her brief pages reflects not so much magic as a lifetime of hard thought about power, voice, representation, gender, and recognition.
Larry Lohmann
Calls for reparations are resounding throughout the world today: for example, reparations for the injuries of centuries of white supremacy in the Anglo world of the US and the UK; reparations for centuries of colonialist extractivism in Latin America; payment for the immense “climate debt” owed to the global South; and reparations for the damages of male sexual predation, as exemplified in the Korean and Filipina comfort women struggles, the #MeToo movement, and many others in the Americas and elsewhere.
The UK anti-corruption group Corner House has threatened legal action in response to a widely publicised Complaint sent on behalf of former Attorney General Mr Mohammed Bello Adoke SAN to Nigeria’s Inspector General of Police.
Adoke’s Complaint alleges “various acts of forgery” by “the parties responsible for the petition, investigations and commencement of the criminal trial at the court of Milan against the individuals/entities connected with the OPL 245 settlement agreement”.
Twenty Years after "Addressing the Underlying Causes of Deforestation"
Larry Lohmann
In 1999, a report called Addressing the Underlying Causes of Deforestation and Forest Degradation was published. It resulted from a collaboration between the United Nations Intergovernmental Forum on Forests and a large group of non-governmental organizations (NGOs), including the World Rainforest Movement (WRM). The aim of the process was to help policy makers better understand the underlying causes of deforestation and to suggest how they might address them.
Toward a Refreshed Agenda for Climate Activism?
Larry Lohmann
Climate movements need to be wary about thinking about climate in terms of carbon. It is more effective to think about it in terms of work.
This is hard because the idea that climate is about carbon remains embedded in much climate thinking on both the right and the left. An illustrated presentation -- which includes a special guest appearance by the Covid-19 virus -- discusses both the difficulties and the necessity of moving on.
Groups Call for Urgent Inquiry into Failure of Ministers to Act despite Whistleblower Warnings
Global Justice Now and The Corner House
The Corner House and Global Justice Now are calling for a parliamentary inquiry following a report from the BBC's award-winning Africa Eye team on concerns about alleged fraud, bribery and other highly-questionable business practices by two British managers appointed by a UK aid-backed private equity fund to run its investee Kenyan firm Spencon.
See the downloadable press release above.
Nicholas Hildyard
The World Bank has invested almost a quarter of a billion dollars in Seven Energy, an oil and gas company operating in Nigeria. Months before the first investment was made, the then Governor of Nigeria's Central Bank alleged that the company's flagship contract involved operating a scheme that was looting billions of dollars in state revenues. A number of the people associated with the contract are now either on the run or charged with money laundering.
Nicholas Hildyard
Scarcity has a stranglehold grip on much of the discourse of polite society, to the point where it is simply taken for granted that just about every social “problem” is, at root, a problem that arises from scarcity. Numerous conflicts result. And the dominant perspective is constantly being challenged by unpolite society.
A commentary
Nicholas Hildyard
To what extent can – or should – social movements rely on the institutionalisation of rights to address issues of social injustice?
Larry Lohmann
Effective research and other action in the field of environment and law requires an understanding of how profoundly both have changed under neoliberalism. The growth of the neoliberal state amid productivity crisis and the move to a more financialized, rent-based global economy has been accompanied by sweeping legal innovations relating to property, trade, investment, rent and criminality as well as an expansion in the mass of written law and in the gaming of legislation.
An economy for whom?
Nicholas Hildyard
This presentation argues that extreme inequality worldwide has not come about by accident, outlines some of the causes and the best hopes of tackling them, particularly “commoning”: actions that assert the collective right of all, not just the few, to survival.
Trabajo, Desechos y Clima
Larry Lohmann
What are the effects of capital’s restless attempts to appropriate unpaid cleanup work done by humans and the rest of nature? Neglect of this question has led to repeated confusions about what waste is and how it might better be approached. A refreshed perspective is especially important in an era in which discussions about solid waste have come to focus largely on landfills and climate discussions to focus on real or imaginary carbon sinks.
Conversations on "Commons" and "Commoning"
This webdoc captures conversations between activists from diverse social movements about obstacles to their work through the lens of the "commons".
An Exchange about Offset Markets
Larry Lohmann
All carbon offsets, biodiversity offsets, water offsets and so forth are premised on the idea that there can be criteria for distinguishing between “additional” and “nonadditional” projects. But there can be no such criteria.
Infrastructure, Financial Extraction and the global South
Nicholas Hildyard
Inequality is as much a problem of wealth and the rich as it is of poverty and the poor. Licensed larceny is a proxy for how effectively elites have constructed institutions that extract value from the rest of society, for example, through Public Private Partnerships (PPPs) to build new infrastructure. How might social justice activists best respond? What oppositional strategies unsettle elite power instead of making it stronger?
. . . talking climate in public space
India Climate Justice Collective
The sixth issue of the new Mausam, the India Climate Justice Collective's magazine connecting climate debates to local struggles over land, livelihood and food rights, highlights the acidification of the oceans caused by high emissions of carbon dioxide and other greenhouse gases; analyses the December 2015 Paris climate agreement; and reports on a WTO judgment against India’s solar power plans.
Expanding the Concept of Environmental Racism
Larry Lohmann
Classically, environmental racism is defined in terms of the racialized distribution of pollution. But it's also about the ways people, ethnic groups, nature and pollution are co-defined in the first place. This aspect of environmental racism is perhaps even more visible in forests than elsewhere, argues this piece from the World Rainforest Movement Bulletin, available here in English, French and Portuguese.
A Spanish-language version of the article is also available from The Corner House upon request.
Larry Lohmann
"Green Growth" is not about solving ecological crises but rather about creating new opportunities that business can take advantage of while diffusing responsibility for the crises. It is full of contradictions and resistances to it are inevitable.
Some Questions from the Netherworld
Nicholas Hildyard
This public lecture raises questions about the direction of mainstream discussions on energy, technology, finance, accumulation, and organising.
A Proposal for the 2015 Paris Climate Summit
Oilwatch International
During 20 years of UN climate negotiations, countries classified according to the UN climate convention as Annex I and II have prevented specific and binding actions to reduce the consumption of fossil fuels, the root of global warming. The international Oilwatch network is proposing a new Annex – Annex Zero – of the Indigenous Peoples and nations, provinces, states, sub-national regions and localities that actually are doing something to keep fossil fuels in the ground, and is collecting commitments from like-minded people who would like to be part of Annex Zero.
Nicholas Hildyard
A background paper (available on request) details the stark divide between rich and poor nationally, regionally and internationally, as value has been progressively extracted over the past few decades from ordinary people.
. . . talking climate in public space
India Climate Justice Collective
The fifth issue of Mausam, a magazine published by the India Climate Justice Collective that connects climate debates to local struggles over land, livelihood and food rights, has a multi-pronged critique of India's INDC – Intended Nationally Determined Contribution – submitted to the UNFCCC in anticipation of the December 2015 climate meeting in Paris.
Scarcity, Politics, Securitisation and the Green Economy
Nicholas Hildyard and Larry Lohmann
Social justice, political organising and alliance-building were among the themes raised by The Corner House at a 2015 academic conference on resource politics.
Las injusticias de la ciencia del clima
Larry Lohmann
People often talk about the unjust distribution of the effects of climate change, and analyze injustices committed in the name of climate change “mitigation” and “adaptation”. But, argues this brief piece in Paths beyond Paris: Movements, Action and Solidarity towards Climate Justice, edited by Joanna Cabello and Tamra Gilbertson, there are also injustices inherent in mainstream climate science, and in the ways that climate science shapes how we approach climate itself. How climate activists orient themselves with respect to these injustices has a great deal to do with how they build alliances.
Larry Lohmann
The alternative to the demand “What's your alternative?” is to counter it with questions such as “alternative for whom?” “alternative to what?”, and to replace it wherever possible with the question “Whose side are you on?”
UK's Crown Prosecution Service accused of failing to freeze corruptly obtained assets
The High Court has lifted a secrecy order imposed on a 2013 legal challenge by The Corner House of a decision by the Crown Prosecution Service not to freeze some $215 million in alleged proceeds of crime from a corrupt Nigerian oil deal.
Exploring the Connections
Nicholas Hildyard
The gap between rich and poor has widened massively over the past 30 years, within and between countries. Such inequality does not come about by accident or simple mismanagement. It is best understood as 'a proxy for how effectively an elite has constructed institutions that extract value from the rest of society.' A presentation available upon request argues that public-private partnerships are such a set of institutions, with important implications for activism to challenge them.
BBC Newsnight reports
Peter Marshall, Newsnight
BBC’s flagship news programme, Newsnight, ran a 10-minute segment on allegations that Britain’s Department of International Development (DfID), through its wholly-owned private equity fund of funds CDC Group, invested in money-laundering fronts for James Ibori, the ex-governor of Nigeria’ oil-rich Delta State, who has been serving a prison sentence in the UK since 2012.
Larry Lohmann and Nicholas Hildyard
This 124-page report aims to understand how energy and finance have been constructed and contested during stormy transformations in industry, livelihood and exploitation over the past two centuries. Its goal is to help effective movements seeking finance for a greener, more democratic, liveable energy future regard both energy and finance as political processes in motion and as continuing social struggles.
Larry Lohmann
Energy politics is all about labour politics. But it is also about struggles over commons, since the emergence of energy itself was a form of enclosure of commons. What are the implications for activist strategy?
Larry Lohmann
Capitalism, Marx taught, is all about getting something for nothing. Labour “produces” because workers give capitalists the free gift not only of part of their time, but also of part of their inheritance in the commons.
Nicholas Hildyard and Larry Lohmann
Too often, discussions about energy alternatives resemble a visit to a 1950s world's fair exhibition displaying exhibits of the wonderful technology of the future. Against one wall stand shiny replicas of new green machines – wind turbines, solar panels, fuel cells, hypercars, supergrids – alongside diagrams showing how environmentally benign they are. Against another are arrayed labeled bottles of new “substitutes” for oil, coal and gas – corn-based ethanol, rapeseed-based biodiesel, hydrogen cracked out of water, hydrocarbons extruded by algae.
Infrastructure as Asset Class: A Critical Look at Private Equity Infrastructure Funds
Nicholas Hildyard
Public, state and taxpayers' money is now being channelled the world over toward private equity funds seeking turbo-charged profits from the construction of substantial new infrastructure. The adverse political and economic consequences for the public good are profound and urgently need challenging.
A Review and a Debate
Larry Lohmann
This essay, published in the March 2011 issue of the journal Development and Change, reviews five recent books, four of them on climate change and one addressing what’s needed to spark the transition away from dependence on oil and other fossil fuels. Included is a September 2012 reply by the authors of one of the books reviewed, Matthew Paterson and Peter Newell, and Larry Lohmann's rejoinder.
... in an Age of Financialization
Larry Lohmann
Proposals for greening the economy necessarily involve the greening of finance as well. But how is a greener finance to be achieved? Activist strategies that fail to take stock of where finance is today in the wake of the 2007-08 breakdown -- and the struggles that are continuing to develop between neoliberalism and the commons -- are unlikely to succeed, and may actually do harm.
A powerpoint presentation setting out these arguments is available upon request to The Corner House.
Ephemera: Theory and Politics in Organization
The contributions collected in this special issue of ephemera question the underlying ideologies and assumptions of carbon markets, and bring to light many of the contradictions and antagonisms that are currently at the heart of ‘climate capitalism’. They offer a critical assessment of the political economy of carbon trading and a detailed understanding of how these newly created markets are designed, how they (don’t) work, the various actors that are involved, and how these actors function together to create and contest the ‘atmosphere business’. In six articles, five notes, three book reviews, and an interview (with The Corner House's Larry Lohmann), some of the most prominent critical voices in debates about the atmosphere business are brought together.
Complaint submitted to UK Parliamentary Ombudsman
Nigerian anti-corruption whistleblower Dotun Oloko today accused Britain’s Department of International Development (DfID) and its private sector arm, the CDC Group, of jeopardising criminal investigations into potential wrongdoing by two CDC-backed private equity funds, Emerging Capital Partners and Ethos.
In 2009, Mr Oloko supplied DfID with detailed information on investments by the two funds in companies alleged to have acted as money laundering fronts for James Ibori, the former Nigerian state governor who was sentenced last month for money laundering and fraud.
A Critical Look at Desertec
Oscar Reyes
Challenges have been repeatedly raised about the economic viability and development benefits of Desertec, a plan to build concentrated solar power plants in the Middle East and North Africa and export the electricity generated to the EU. Promoting exaggerated claims of solar mega-projects and embedding them within a neo-liberal model of energy market liberalisation undermines and discredits efforts to move rapidly away from fossil fuels.
Larry Lohmann
Building more effective climate movements is, in part, a continuous process of interpretation and reinterpretation. This chapter from a forthcoming academic volume argues that climate activists can benefit from putting the current fashion for carbon trading into the context of the other market environmentalisms with which it has evolved; from exploring the insights of actor-network theory about the genesis and limitations of commodity-ready environmental objects; and from seeing carbon trading and other current defences of fossil fuel use in the context of accumulation cycles.
Larry Lohmann
The distinction between industrial tree plantations and biodiverse landscapes organized in conjunction with commons regimes is not just a distinction between various vegetable assemblages, but also a social/technical/political distinction. The slave-worked plantations of the past and the industrial plantations of today do not merely prop up colonialism; they are constituted by colonialism. Today's industrial plantations are also intertwined with overaccumulation, overproduction, financialization, and many other so-called "social" things.
The Contradictions of Neoliberal Climate Policy
Larry Lohmann
The carbon markets that constitute the default international approach to the climate crisis, argues this article in the latest Socialist Register, aim both at opening up new frontiers for profit-making and at securing the background conditions for accumulation that are currently threatened by calls for greenhouse gas emission cuts. But they are afflicted by valuation paradoxes that are far more intractable than those affecting markets in other commodities such as food, energy, consumer durables, or even complex financial derivatives. The article is supplemented with a short interview with New Left Project's Ed Lewis.
Nicholas Hildyard
"What news on the Rialto?" one of Shakespeare's businessman characters asks another in "The Merchant of Venice", referring to the bridge where Venice's merchants met to trade. If such a scene were played out today on Wall Street, the topic of conversation might well be how to make money out of saving the Rialto itself. But those who have always lost out as a result of the goings-on on the Rialto may want to talk about something other than how to "fix" a system that has always disadvantaged them.
A powerpoint presentation available on request from The Corner House explores these themes.
The Consequences of EU Energy Policies
The Corner House
The European Union’s 2008 Energy Security and Solidarity Action Plan does not address conflict, insecurity, human rights, militarisation or the Millennium Development Goals. Most critically, it does not ask the questions Energy Security for Whom? or Energy Security for What?
Ruling places BP in breach of its loan agreements, say campaigners
A BP-led consortium is breaking international rules governing the human rights responsibilities of multinational companies in its operations on the controversial Baku-Tbilisi-Ceyhan oil pipeline, the UK Government ruled today.
Background and history
In March 2011, following a Complaint lodged under the OECD Guidelines for Multinational Enterprises by six environment and human rights groups (including The Corner House) back in April 2003, the UK government ruled that oil multinational BP is breaking international rules governing the human rights responsibilities of multinational companies in its operations on its Caspian oil pipeline.
Evidence from The Corner House
The Corner House
The Export Credits Guarantee Department should target its support towards small- and medium-sized enterprises (SMEs) that contribute to long-term, sustainable job creation and tax revenues in the UK. It should support low-carbon technologies instead of fossil fuel projects, such as oil pipelines and gas fields. It should reinstate immediately its environmental and social screening procedures, which were so significantly weakened in May 2010 that ECGD could now support projects using child and forced labour.
Sentencing at Crown Court on 20 December 2010
Arms company BAE Systems today pleaded guilty at the City of Westminster magistrates court in London to minor charges of false accounting relating to its controversial sale of military radar equipment to Tanzania in 1999. The sale has been surrounded by allegations of corruption.
ECGD destroyed records that would confirm one way or the other
Under the OECD Guidelines for Multinational Enterprises, commercial confidentiality cannot be used by corporations as a reason for refusing to supply the names of their agents when requested by competent authorities. This ruling by the UK government was issued in November 2010, six years after The Corner House first submitted a Complaint against BAE, Rolls Royce and Airbus.
Larry Lohmann
This book chapter explores the interacting origins, development and politics of the “strange markets” in finance and climate developed in recent years and exposes the similar dangers they pose.
Los “mercados extraños” y la crisis climática
Este capítulo del libro explora los orígenes, el desarrollo y la política de los “mercados extraños” que han aparecido en las décadas recientes en el sector financiero y en la política climática internacional, y expone los peligros que presentan.
Responses to Food Speculation
Nicholas Hildyard
Some 154 million people were reportedly driven further into poverty in Southern countries as a result of speculation-induced food price hikes in 2007-08. What are the best strategies for bringing about the structural change needed that progressive activists can lend their support to?
This workshop presentation, while endorsing regulatory measures including banning certain investment vehicles such as exchange-traded funds and vetting of derivative-based financial instruments, cautions against becoming focussed on regulation alone as an answer. Also crucial is the promotion of non-derivative, socially-based mechanisms to protect farmers and consumers from volatile food prices, as well as price interventions that do not pit Northern farmers against their Southern counterparts.
Memorandum on CDC
The Corner House and Dotun Oloko
This submission to a UK Parliamentary Inquiry into the Department for International Development (DfID) focuses on the support given by a DfID owned fund management business, CDC, to private equity funds and concerns over alleged corruption in several investments made by CDC-backed funds in Nigeria.
How it works and why it is controversial
Jutta Kill, Saskia Ozinga, Steven Pavett and Richard Wainwright
Discussions of carbon trading are usually full of jargon, abstract concepts, mathematical formulae and technical detail, making it hard for many people to understand its implications and join in debates. This guide unravels the complexity, explains key concepts and terms, and describes how new interest groups and complex financial arrangements have become involved and transformed the practices.
Variations on Polanyian Themes
Larry Lohmann
One lesson the financial crisis teaches us is: beware of the new carbon markets that constitute today's main official response to climate change. These markets are startlingly similar to the financial derivatives markets that have thrown banking systems into a tailspin. (German version also available.)
Mercados de incertidumbres y mercados de carbono: variaciones en temas de Polanyi
Una de las lecciones que la crisis financiera nos enseña es a tener cuidado con los nuevos mercados de carbono que constituyen hoy la principal respuesta oficial al cambio climático. Este artículo de la revista New Political Economy argumenta que estos mercados son sorprendentemente similares a los mercados de derivados financieros que arrojaron a los sistemas bancarios al caos en 2008.
Memorandum to Secretary of State for International Development
This Memorandum raises questions about the due diligence conducted by CDC, a company owned by the UK Government, in its dealings with two private equity firms that have invested in Nigerian companies. These companies are reported to be “fronts” for the alleged laundering of money said to have been obtained corruptly by the former Governor of Nigeria’s oil rich Delta State.
BBC Radio 'File on 4'
A BBC radio programme asks whether the plea bargaining strategy adopted by the UK's Serious Fraud Office (SFO) in the past two years "to punish firms who use bribery and corruption to win contracts abroad" is working. It queries several aspects of the SFO's proposed settlement with BAE Systems, including an agreement that appears to give immunity from prosecution to any individual who might have committed wrong-doing in those affairs.
The Corner House and Samata
Lawyers acting for The Corner House and Indian group Samata requested a Judicial Review of the decision by the UK's Export Credits Guarantee Department (ECGD) effectively scrapping its absolute ban on providing financial support to projects overseas involving "harmful" child labour and forced labour. ECGD stated in response that it does not have to consider whether its support contributes to human rights abuse, because it "does not owe obligations to persons outside the jurisdiction of the UK".
but withdraw legal challange
The Corner House and Campaign Against Arms Trade
Campaign Against Arms Trade and The Corner House withdrew their application for a judicial review of the 5 February 2010 decision by the Serious Fraud Office (SFO) to enter a controversial plea bargain settlement with BAE Systems and to drop "conspiracy to corrupt" charges against a BAE former agent. They concluded they were unable to appeal against the 22 March 2010 refusal by a High Court judge to grant permission to bring the legal challenge. Nonetheless, both CAAT and The Corner House will continue to raise questions about the settlement and the process leading up to it.
Refinancing through GEFCO raises questions about ECGD's financial losses
In March 2010, The Corner House and Campaign Against Arms Trade (CAAT) submitted a complaint to the European Commission alleging that the UK gives unlawful state aid to GEFCO, a special purpose vehicle used by the UK's export credit agency, the Export Credits Guarantee Department (ECGD), to refinance its loss-making interest-rate support scheme provided to UK exporters. After much correspondence, it emerged in March 2011 that the complaint should have been directed at the companies receiving the support rather than at GEFCO itself and should have cited a different clause in the WTO's Agreement on Subsidies and Countervailing Measures. The groups will submit a new complaint on this basis.
to apply for Judicial Review of SFO-BAE-Tanzania settlement
Honourable Mr Justice Collins
On 22 March 2010, a High Court judge, the Honourable Mr Justice Collins, refused to grant permission to Campaign Against Arms Trade and The Corner House to bring a judicial review of the Serious Fraud Office February decision to make a plea bargain settlement with BAE Systems and to drop "conspiracy to corrupt" charges against a BAE former agent.
Serious Fraud Office and BAE Systems
After CAAT and The Corner House had submitted their application on 26 February 2010 for a judicial review of the Serious Fraud Office decision to make a plea bargain settlement with BAE Systems and to drop "conspiracy to corrupt" charges against a BAE former agent, the Director of the Serious Fraud Office and BAE Systems submitted their versions of the facts and legal grounds to contest the application, arguing that permission to bring the review should not be given.
Denial of justice say NGOs
CAAT and The Corner House
Campaign Against Arms Trade (CAAT) and The Corner House expressed disappointment, anger and outrage at the announcement of a settlement between the UK's Serious Fraud Office (SFO) and BAE Systems of the long-running investigations into alleged bribery and corruption in BAE's arms deals in several African and European countries.
The Political Economy of Offset Markets
Steffen Bohm and Siddhartha Dabhi
This book presents case studies and critiques of carbon offset markets from around the world, emphasizing how this pillar of current mainstream climate policy affects the lives of communities. The book also presents alternatives to carbon markets which enable communities to live low-carbon lives.
The Policy Reality
Larry Lohmann and Sarah Sexton
This short contribution to a Forum discussion on climate change in the journal Global Social Policy outlines how and why the climate solution requires turning away from fossil fuel dependence and how the main official approach to the climate crisis worldwide -- building a single, liquid global carbon market worth trillions of dollars -- is likely to make climate change worse, not only exacerbating its social impacts but also generating negative impacts of its own.
Some reflections
The Corner House
Overpopulation arguments in climate debates serve to delay making structural changes in North and South away from the extraction and use of fossil fuels; to justify increased and multiple interventions in the countries deemed to hold surplus people; and to excuse those interventions when they cause further environmental degradation, migration or conflict. Population numbers, in sum, offer no useful pointers toward policies that should be adopted to tackle climate change.
Larry Lohmann
These days, being a climate activist can easily get you arrested -- or worse. But the bigger danger -- especially for activists in industrialized countries -- may be that of being seduced into expending all your energies promoting "solutions" that turn out to be bogus.
Learning about Climate Policy from the Financial Crisis
Larry Lohmann
Studying the financial crisis and the climate crisis together can provide useful tools for understanding how to tackle both. Overconfident commodification of uncertainty (in the form of a trade in new and complex derivatives) helped precipitate a global economic crash. Overconfident commodification of climate benefits (in the form of a trade in carbon) threatens to hasten an even worse catastrophe.
Cuando los mercados son veneno: Aprender sobre política climática de la crisis financiera
El estudio simultáneo de la crisis financiera y la crisis climática puede proporcionar herramientas útiles para hacer frente a las dos. Los intentos imprudentes de mercantilizar incertidumbres (en la forma de un mercado de derivados complejos) ayudaron a provocar una crisis económica mundial. Los intentos irresponsables de comercializar el clima amenazan con contribuir a una catástrofe aún peor.
BPU Review made public after Information Tribunal
After the BTC Consortium, led by BP, formally asked the UK's export credit agency, ECGD, for financial support for its BTC oil pipeline project, ECGD's Business Principles Unit (BPU) assessed the potential environmental and social impacts of the project. The BPU's findings and recommendations were critical to ECGD's issuing significant financial guarantees for the project in February 2004.
When The Corner House put in an information request for a copy of the BPU's report, it was refused. Only after appeals and counter appeals was the information finally released in August 2009.
The Rise of Carbon Trading
Larry Lohmann
Carbon permit prices flashing on electronic screens in Wall Street trading rooms reflect a complex political movement to reorganize and redistribute power and knowledge. The carbon markets associated with the Kyoto Protocol, the EU Emissions Trading Scheme and the US's Waxman-Markey Act constitute perhaps the last great class project of a waning neoliberal regime – the ill-fated attempt to privatize the climate itself.
El neoliberalismo y el mundo calculable: El ascenso del comercio de carbono
Los precios de los derechos de emisión de dióxido de carbono que aparecen en las pantallas de las computadoras de Wall Street reflejan un movimiento político complejo para reorganizar y redistribuir el poder y el conocimiento. Los mercados de carbono del Protocolo de Kioto y el Esquema del Comercio de Emisiones de la Unión Europea son uno de los últimos grandes proyectos del neoliberalismo – un intento malhadado de privatizar el clima. Este capítulo del libro, "El neoliberalismo y el mundo calculable: El ascenso del comercio de carbono", describe las contradicciones del intento de formar una mercancía con el clima.
Memoranda to the Joint Committee on Human Rights
The Corner House
The Joint Committee on Human Rights of the UK Parliament requested evidence for its inquiry into business and human rights on the State's duty to protect against human rights abuses by businesses; corporate responsibility to respect human rights; and the need for individuals to have effective access to remedies when their human rights are breached. The Corner House submission to the Committee focused on the policies and practices of the UK Export Credits Guarantee Department (ECGD) in the context of the state's duty to protect human rights. The Committee subsequently called for supplementary evidence on the government's Draft Bribery Bill and the Industry and Exports (Financial Support) Bill, which The Corner House provided.
Peter Marshall, Newsnight
BBC2 Television's Newsnight current affairs programme summarised its 8 minute broadcast: "In 2006, the British government scotched a serious fraud investigation into BAE's biggest deal, with Saudi Arabia. Now, Peter Marshall [Newsnight presenter] reveals that the company may have returned the favour. It has stopped a billion pound insurance contract which tied the government to the Saudi business." Information about stopping the insurance contract came to light as a result of legal correspondence between The Corner House and Campaign Against Arms Trade with the UK Export Credits Guarantee Department.
Lessons for Regulation
Nicholas Hildyard
A talk at a Cardiff Business School conference on the insights from political organising that can help not only understand what caused the financial crisis but also develop ways forward that could ensure it is not repeated and that finance serves a public purpose.
Frontline
The US public television's flagship public affairs programme, Frontline, produced a 60-minute documentary on "black money" -- the secret payments that make up the shadowy world of international bribery. It reveals how multinational companies create slush funds and set up front companies to obtain business and contracts. In describing the crackdown on these practices, the documentary focuses on BAE Systems and allegations about its billion dollar bribes. It includes an interview with former Serious Fraud Office (SFO) Director Robert Wardle, who describes as "blackmail" the Saudi threat to withdraw intelligence cooperation with the UK if the SFO's BAE-Saudi investigation continued.
A Short Debate
The Corner House
Merrill Lynch is a major Wall Street investor in carbon pollution permits. Here its Global Head of Carbon Markets debates The Corner House on whether carbon markets are effective.
Mark Thomas
At the beginning of 2009, activist comedian Mark Thomas decided to do a weekly show about the meltdown of the world's economy. "It's The Economy Stupid" combines stand up comedy with interviews with invited guests -- economists, academics, MPs, trade unionists, journalists (and members of The Corner House) -- on stage to explain what happened, find out what is going on, and explore what we can do about it.
Why major reform is vital
The Corner House
On 12-13 March 2009, development, environment and human rights groups from Belgium, France, Italy, Ireland, Switzerland and the UK, and local residents of the island of Jersey organised a seminar to discuss the necessity for tax haven reform and to exchange views on how governments and civil society can work towards achieving a "just transition" for tax havens that would not impact on poorer residents.
A training for government officials and civil servants in Iraq
The Corner House and others carried out a training session to assist Iraqi government officials and civil servants in understanding the principles of human rights and Iraq's international obligations in relation to investment agreements.
A Critical Look at Recent EU Climate Claims
Larry Lohmann
The European Union claims that it is "on track" to meet its modest Kyoto Protocol emissions targets. It is not. Much more importantly, it is not "on track" to wean itself off fossil fuels -- which is the real point of climate change mitigation efforts.
Myriam vander Stichele
Huge amounts of money and capital have been able to move around the world with ease over the past few years. Governments appear not to have been aware what was going on, let alone to know what to do now in the ensuing crisis. In fact, it was (mainly Northern) governments that created the enabling environment for such free movement of capital and new financial products in the first place. This paper describes how they did so.
Financial Bricolage, Derivatives and Power
Nicholas Hildyard
39. Financial entrepreneurs created a 'shadow banking system' over the past 30 years to circumvent regulation and to offload risk onto others, relying on 'derivatives' and 'securitisation'. They generated easy credit that fuelled a boom in corporate mergers and acquisitions across the United States and Europe, and that enabled companies involved in mining, biofuels, private health care, water supply, infrastructure and forestry to expand their activities significantly. When the pyramid of deals came tumbling down, however, the public had to bear the costs.
Some Frequently Asked Questions
Kavaljit Singh
38. The current protectionist backlash against state-owned sovereign wealth funds (SWFs), particularly from the Middle East and China, stems from Western policy makers' fears that SWFs follow strategic political objectives rather than commercial interests, investing in Western companies and banks to secure control of strategically important industries such as telecommunications, energy and banking. This paper examines these fears in order to understand the potential impact and implications of sovereign wealth funds in a rapidly-changing global political economy.
Connections with Financial and Foreign Policy
Sarah Sexton
This presentation raises some concerns about the term "energy security". presentation at PLATFORM's "Unravelling the Carbon Web".
ECGD did not assess human rights impacts of conflict risks
The route of the BTC pipeline from Armenia through Georgia to Turkey passes in or near seven existing conflict zones, including South Ossetia and Armenia. The Corner House raised this issue with the UK’s export credit agency, ECGD, the National Audit Office and the Environmental Audit Committee of the UK Parliament.
Lack of checks and balances when criminal prosecutions halted on national security grounds
The Corner House
The Corner House issued this response to the report by the Joint Committee of the UK Parliament scrutinising the draft Constitutional Renewal Bill.
in response to Law Lords' judgments in BAE-Saudi appeal
The Corner House and Campaign Against Arms Trade
This statement was issued in response to the House of Lords overturning the judgment of the High Court that the Director of the Serious Fraud Office acted legally in terminating the SFO's investigation into alleged corruption by BAE Systems in its dealings in Saudi Arabia.
The Corner House and CAAT
The Corner House and CAAT issued this press release after the House of Lords (the UK's highest court) overturned the High Court's ruling of April 2008 that the Director of the Serious Fraud Office (SFO) had acted unlawfully when he terminated a corruption investigation into BAE Systems' arms deals with Saudi Arabia. The law lords judgment confirms that the UK is in flagrant breach of its duty to implement and give force to the OECD Anti-Bribery Convention.
Arlen Dilsizian interviews Larry Lohmann
Arlen Dilsizian with Larry Lohmann
Climate change is not a new kind of social issue. It requires a re-examination of classic issues of power relations.
Memorandum to Environmental Audit Committee Inquiry
The Corner House
The case of Merowe Dam
Nicholas Hildyard
The Merowe/Hamadab Dam on the River Nile in Sudan, which was completed in 2009, is the largest hydroproject in Africa. The major contracts were awarded to three European companies: Lahmeyer International, Alstom and ABB. Implementation to date has been characterised by human rights abuses, forced resettlement, illegality and a failure to abide by international standards. The companies consistently failed to use their influence to halt the dam's implementation until issues surrounding its impacts were resolved.
The Corner House and Campaign Against Arms Trade
Even before the judgement has been given on the landmark judicial review of the decision by the UK's Serious Fraud Office to halt its BAE-Saudi Arabia corruption investigation, the UK Government has introduced draft legislation whose effect would be to prevent in future such a judicial review -- and even such an investigation. The Corner House and CAAT are calling upon the public and parliamentarians to voice their concerns about the draft Constitutional Renewal Bill.
Of Serious Fraud Office decision to stop BAE-Saudi corruption inquiry
The Corner House and CAAT
On 14th February 2008, the High Court will hear the judicial review of the Serious Fraud Office's decision to terminate its investigation into alleged corruption by BAE Systems in recent arms deals with Saudi Arabia.
The Corner House and CAAT
Documents released in the UK High Court indicate that the Serious Fraud Office investigation into BAE's Saudi arms deals was dropped only after the then Prime Minister Tony Blair sent a personal minute to the Attorney General Lord Goldsmith. They show that Goldsmith did not believe that the case should be dropped in response to alleged Saudi threats to withdraw intelligence and security co-operation.
various
Documents released in the High Court on Friday 21 December 2007 indicate that the Serious Fraud Office (SFO) investigation into BAE's Saudi arms deals was dropped only after the then Prime Minister Tony Blair sent a personal minute to the Attorney General Lord Goldsmith.