carbon cowboys

Definition

The rise of carbon cowboys - unscrupulous entrepreneurs who attempt to acquire rights to carbon in rainforest by signing indigenous communities to unfair contracts, often with a view to on-selling the rights to investors for a quick profit. In 2012 an Australian businessman operating in Peru was revealed to have signed 200-year contracts with an Amazon tribe, the Yagua, many members of which are illiterate, giving him a 50 per cent share in their carbon resources. The contracts allow him to establish and control timber projects and palm oil plantations in Yagua rainforest

Broader terms

weak governanace