Far from being a solution to global warming, carbon trading is little more than licence for big polluters to carry on business as usual, says Larry Lohmann in this 'Comment and analysis' article in New Scientist magazine.

On 18 December 2006, The Corner House and Campaign Against Arms Trade (CAAT) began a legal challenge to the decision by the UK's Serious Fraud Office to drop the investigation into bribery allegations involving BAE Systems Plc in Saudi Arabia.

The UK Government's Treasury Solicitor replied that the Government would endeavour to provide a substantive reponse by 19 January 2007 to the 18 December 2006 letter sent on behalf of The Corner House and CAAT.

Corner House Research and Campaign Against Arms Trade agreed to the Treasury Solicitor's request for an extension of time to respond to the 18 December 2006 letter sent on behalf of The Corner House and CAAT, provided that he confirmed that the groups would receive a response by 19 January 2007.

The Treasury Solicitor confirmed that the Government intended to respond by 19 January 2007.

140 NGOs from 37 countries called upon Prime Minister Tony Blair to re-open the investigation of the Al Yamamah defence contract between BAE and Saudi Arabia government because of the impacts of corruption on democracy, sustainable development, human rights and poverty.

 

On Friday 19 January 2007, CAAT and The Corner House received the Government's formal response to their proposed judicial review challenge of the Serious Fraud Office decision to discontinue the investigation into BAE Systems.

The letter sent by the Government's solicitors seeks to defend the decision. There is nothing in that letter which has dissuaded CAAT and The Corner House from their view that the decision was unlawful and is susceptible to challenge in the High Court.

This book details the central role of transnational corporations in determining foreign direct investment (FDI) patterns. Using case-studies, statistical data and cogent analysis, it makes a critical appraisal of contemporary investment issues as it maps investment flows, trends and regulatory frameworks. It shows how FDI can lead not to economic growth but to an outflow of capital instead of an inflow, prompting a growing backlash against foreign investments in many Latin American and Asian countries, and Russia.

In March 2007, the export credit agencies (ECAs) of Austria, Germany and Switzerland approved financial guarantees for the proposed Ilisu Dam on the River Tigris in the Kurdish region of Southeast Turkey. They stated that Turkey had provided the two downstream countries, Syria and Iraq, with the information these countries had sought about the Dam, and that Iraq had agreed to the project. Neither claim is true, according to Iraq's Minister of Water. By approving funding before Iraq and Syria had been consulted, the ECAs could be in violation of international law.

This Corner House 'witness statement' outlines the nexus between corruption and bribery, and international trade, economic investment, terrorism and national security, and provides background on legislative and other steps to combat corruption. It forms part of the claim for a judicial review against the UK Government's decision in December 2006 to terminate an investigation by the Serious Fraud Office into alleged corruption by BAE Systems in recent Al Yamamah arms contracts with Saudi Arabia.