Latest news with #indigenouscommunities
Finextra
12 hours ago
- Business
- Finextra
Standard Chartered signs five year carbon credit agreement with Brazilian state
The initiative supports the COP30 Presidency's goal of accelerating climate finance for forests and developing economies. Brazil, as host nation, is placing strong emphasis on halting and reversing deforestation and forest degradation by 2030. 0 This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. Standard Chartered has announced an agreement to sell up to five million high-integrity forest protection carbon credits in partnership with the Brazilian State of Acre. This marks one of the first collaborations between a major global bank and a sub-national government to support large-scale forest conservation. The credits, expected to enter the market in 2026, will be issued under the Architecture for REDD+ Transactions (ART) registry using the TREES methodology. This has been approved by the Integrity Council for the Voluntary Carbon Market (ICVCM). These carbon credits differ from traditional project-based credits by covering entire regions and being directly overseen by government authorities. The initiative is designed to deliver measurable economic and environmental outcomes. According to the State of Acre's benefit-sharing strategy, 72% of net proceeds will go directly to indigenous and local communities, funding sustainable agriculture, reforestation, and eco-tourism. In addition to this, 28% will support project governance, including forest monitoring, emergency response, and adherence to the TREES standard. This structure aims to create financial incentives for forest preservation while ensuring that the majority of economic benefits flow to those living in and protecting the Amazon rainforest. Standard Chartered will act as the exclusive seller of the credits, leveraging its global network and carbon market expertise to bring the credits to buyers seeking high-integrity offsets. To enhance market confidence, the Acre programme is undergoing an independent assessment by carbon data provider Sylvera, the first evaluation of a Brazilian jurisdiction under the ART-TREES standard. Marisa Drew, chief sustainability officer, Standard Chartered, says: "Without deploying new market mechanisms, standing forests are unlikely to be protected because the short-term economic incentive for deforestation nearly always outweighs the perceived value of these long-term natural assets in situ. We're leveraging our global network and carbon market expertise to address this challenge directly, offering a means to help preserve standing forests that act as vital carbon sinks, and in turn help the communities that depend on them continue to realise the economic and social returns they provide." Mr. Amarisio Freitas, Secretary of the Treasury of the State of Acre, speaker and leader of the State's Jurisdictional Carbon Project, adds: "This arrangement will bring economic and social benefits to the people of Acre, while protecting our natural resources and supporting the traditional communities and indigenous peoples of our state. The government has fought for a fair society by providing solutions for all its inhabitants, creating development mechanisms in the regions furthest from the capital without negatively impacting the ecosystem. This arrangement provides us an effective tool in the fight for sustainable economic development. We are excited to work with Standard Chartered on this groundbreaking innovation." Germana Cruz, CEO and head of financial institutions, LATAM, Standard Chartered, concludes: "As the world looks toward COP30, the State of Acre is stepping forward with bold leadership on carbon markets - combining environmental ambition with economic opportunity. Standard Chartered is proud to support this vision by bringing our global expertise in sustainable finance to help build credible, scalable carbon market solutions for our markets."
Wall Street Journal
2 days ago
- Business
- Wall Street Journal
Standard Chartered to Sell Carbon Credits for Brazilian State Seeking to Protect Amazon
Standard Chartered plans to sell forest protection carbon credits on behalf of the Brazilian state of Acre, as part of a bid to protect the Amazon rainforest and drive more cash to indigenous communities in the region. The London-based bank will sell up to five million carbon credits over a five-year period starting in 2026, in one of the first instances of a major bank working with a state or local government to support forest conservation by directly selling carbon credits.
CTV News
4 days ago
- General
- CTV News
Expert warns severe wildfires could become the new normal without climate action
Watch Intact Centre on Climate Adaption manager Anabela Bonada on what's driving severe wildfires and their impact on indigenous communities.
Malay Mail
4 days ago
- Malay Mail
What makes Mulu a Unesco treasure? Inside Sarawak's caves, culture and biodiversity
MULU, Aug 5 — Reaching the iconic Mulu Pinnacles, nestled deep within Mulu National Park, Miri, is an adventure in itself. Accessible only by river, the journey begins at the park headquarters jetty, where visitors board a boat and travel up the Melinau River to Long Titut, the gateway to the jungle trail leading to the craggy limestone karsts. The boat ride is about 30 minutes if the river flow is good, but can stretch to an hour if the water is shallow, which is the case during the dry season when boats — heavily loaded with passengers and goods — have to be manually pushed if they get stuck on the rocky riverbed. For the boatmen, wearing rubber shoes and armed with a long pole, it is all part of their job. Each boat has one boatman stationed at the front, carefully pushing the boat forward and navigating it around large rocks and riverbanks. At the rear, another experienced boatman controls the engine to keep the boat from drifting off course. What may seem like a nerve-racking boat ride for tourists is, in fact, a daily routine for the local communities here. Located in the remote interior of northern Borneo, the 85,671-hectare Mulu National Park — designated a UNESCO World Heritage Site in 2000 — is home to one of the world's largest limestone cave systems, extraordinary biodiversity and indigenous communities whose way of life remains deeply rooted in tradition and nature. The journey along the Melinau River from the Mulu National Park jetty to Long Litut is more than just transportation — it's a cultural experience. — Bernama pic Boats Here, water transport is not just an essential part of ecotourism but also connects the local communities, mainly from the Penan and Berawan ethnic groups, to the outside world. For Donny Andrew, 45, a boatman from the village of Long Iman here, the boat is not just a means of transportation but the lifeline of his community's economy and social life. Of Kelabit descent, Donny has lived in Long Iman since he was 19, after marrying a Penan woman. A father of three, he works as a boat operator at Mulu National Park but for only six days each month. 'Sometimes, we take up jobs from other agencies too like, for example, transporting schoolchildren (who study at SK Batu Bungan or SMK Long Panai) from their homes to their hostels. Here, they need a boat to go to school,' he said, while adjusting the engine of his small boat. He said the biggest challenge comes during extended droughts when the river becomes too shallow and boats easily get stuck, making some areas difficult to reach. Julie Nyeling, 46, is a craftswoman at the Mulu Handicraft Market in Kampung Batu Bungan. — Bernama pic Penan crafts Like the other ethnic groups in Sarawak, the Penan community residing in the Mulu National Park area is also well-known for their traditional handicrafts. At the Mulu Handicraft Market in Kampung Batu Bungan here, Penan women can be seen in their zinc-roofed kiosks, diligently weaving rattan as well as arranging handmade items such as bukui (traditional rattan bags), blowpipes, woven baskets and beaded accessories for sale to tourists from around the world. According to Julie Nyeling, 46, one of the handicraft entrepreneurs operating there, products made by the villagers are also marketed outside of Sarawak, particularly in Kuala Lumpur, during craft sales or festivals. 'We sell every day and most tourists come during school holidays… sometimes we get orders from Miri. On average, we can earn around RM800 a month,' she said, while also lamenting that interest among the younger generation in traditional handicrafts is declining. Her sister Jabung Nyeling, 50, who has been making crafts for decades, said it can take nearly a month to complete a rattan woven bag, depending on the design and size. She said producing quality rattan handicrafts is not easy, especially when trying to preserve traditional dyeing methods without using artificial colouring. 'The rattan has to be buried in the ground for a day or overnight to turn black. That's how we produce natural dye… no chemicals are used. 'If we don't bury it, the colour won't show. If we use ordinary dyes, like red and others, they'll fade quickly when exposed to water. But the black colour will last,' she said, adding that the process requires not only a lot of patience but also adequate space and suitable weather. The limestone formations in Mulu National Park are home to a variety of endemic species, including Monophyllaea pendula, a unique plant with only a single leaf. — Bernama pic Caves No visit to Mulu is complete without visiting the famous caves in the Mulu National Park, which has a vast and awe-inspiring network of limestone caves such as Gua Rusa, Gua Lang and Gua Air Jernih, each offering its own unique appeal and challenges. For local tour guide Jason Lau Siew Hui, 43, who has been in the field for nearly two decades, Mulu's true charm goes far beyond its caves. He said while Mulu is best known for its spectacular limestone formations and vast cave systems, it also boasts remarkable biodiversity. 'It is estimated that the park is home to around 2,000 flowering plant species, 123 species of mammals, 305 bird species and over 2,000 species of insects… and ongoing research continues to uncover even more biodiversity here,' said Lau, who hails from Bintangor. He added that so far, 10 endemic plant species and six endemic animal species have been identified — all of which can only be found in Mulu — making its ecosystem extremely valuable for conservation. He said Mulu's recognition as a UNESCO World Heritage Site also brings its own set of challenges, especially during good weather from March to October when tourist numbers rise significantly. 'Sometimes it's a challenge to ensure all visitors follow the park's rules. We have to monitor every group, give safety briefings beforehand, and limit group sizes during tours,' he explained. Challenges aside, visitors continue to flock to the Mulu National Park, eager to witness, among others, the spectacle of millions of bats emerging from Gua Rusa at dusk or to explore the extraordinary limestone cave system hidden deep within the park. — Bernama
SBS Australia
11-07-2025
- Business
- SBS Australia
Blak-cladding: ACBF cops $3.5 million fine for misrepresenting it was Aboriginal-owned
The Federal Court has ordered a company that misrepresented itself as being Aboriginal-owned pay a $3.5 million penalty. ACBF Funeral Plans Pty Ltd (also known as Youpla) was exposed during the 2018 banking royal commission for using predatory sales practices in Indigenous communities. The $3.5 million penalty handed down to ACBF on Thursday comes in addition to the $1.2 million penalty ordered in September 2023 over another misrepresentation that consumers would receive a lump sum payment when this was not the case. This brings the total penalties ordered against ACBF to $4.7 million. First Nations advocates from the Save Sorry Business Coalition welcomed the $3.5 million penalty imposed on ABCF, pointing to the court finding that the company misled the community about their business being Aboriginal-owned by using Aboriginal imagery on their contracts, clothing, ads and business cards. Save Sorry Business Co-ordinator Bettina Cooper said they welcomed the substantial penalty for a company falsely representing it was Aboriginal-owned and that the Australian Securities and Investments Commission (ASIC) has shown other businesses that it will take action against this conduct. 'This penalty doesn't help the thousands of people who were deceived into thinking they were buying a funeral plan from an Aboriginal-owned business," she said. "But it very clearly warns other businesses that, if you claim or imply you are a First Nations business in order to make money and advantage of community and you are not, you will be held to account." ASIC chair Joe Longo said the penalty is a strong deterrent to anyone who tries to mislead Aboriginal consumers by falsely claiming Aboriginal ownership or management. "It is one of ASIC's enduring priorities to tackle misconduct targeting First Nations people and our work in this case shows exactly why," he said. But ASIC is not to enforce either penalty without leave of the Court because ACBF is in liquidation. In handing down his decision, Justice Scott Goodman agreed with ASIC's submission that the making of the representation that ACBF was Aboriginal-owned or managed when it was not was deliberate and callous and involved egregious conduct. The penalty decision comes after ASIC's successful appeal to the full Federal Court, overturning part of an earlier Federal Court decision in relation to ACBF and Youpla Group Pty Ltd (Youpla), handed down on February 29, 2024. ACBF, a wholly owned subsidiary of Youpla, offered, promoted and sold the Aboriginal Community Funeral Plan, a funeral expenses insurance policy, primarily to Aboriginal consumers. ACBF customers who purchased the funeral plan paid fortnightly premiums so that their nominees, such as their family members, would be covered for funeral related expenses up to a selected benefit amount. Youpla Group (then ACBF Group Holdings Pty Ltd) was the subject of a case study in the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. In October 2020, ASIC commenced proceedings against ACBF. But in March and April 2022, ACBF and Youpla both went into liquidation. ASIC sought leave to continue the proceedings due to the importance of general deterrence in relation to the defendants' conduct. In September 2023, the Federal Court found that ACBF misrepresented to plan holders that they would receive a lump sum payment of their chosen benefit amount, when in fact they would only be reimbursed for funeral related expenses up to the benefit amount upon production of proof that those expenses had been incurred. The court ordered a $1.2 million penalty against ACBF. But the Federal Court found that ASIC had not made out its case in relation to the other alleged misrepresentations, including that they had falsely claimed they were Aboriginal-owned. In February 2024, the full Federal Court upheld ASIC's appeal, finding that ACBF had also misrepresented to Aboriginal consumers that it was Aboriginal-owned or managed when that was not the case. Ms Cooper thanked ASIC for appealing the decision regarding misrepresenting Aboriginal ownership. "Government agencies should continue to identify and take action against black-cladding, so legitimate First Nations owned organisations are able to flourish and support their community," she said. For 30 years, the Aboriginal Community Benefit Fund (ACBF), trading as Youpla, aggressively sold poor-value funeral plans to Aboriginal and Torres Strait Islander people across Australia, frequently taking premiums directly out of Centrelink payments through Centrepay. The Save Sorry Business Coalition is a First Nations-led campaign seeking fair resolution for First Nations people harmed by the misleading and deceptive conduct of Youpla and the failure of government and regulators over two decades. The Federal Government's Youpla Support Program began on July 1, 2024, to support people affected by the collapse of ACBF/Youpla. Policy holders eligible for a payment would receive either 60 per cent of all the payments they made, or the benefit amount on the ACBF certificate, whichever is lower. "The Save Sorry Business Campaigns commends the government for this program but notes that many of the estimated 14,000 people who suffered a loss may not be eligible under the program because their involvement was so long ago, nor will many people fully recover their losses in full," the Save Sorry Business Coalition said. ASIC has also taken penalty proceedings in the Federal Court against former directors of ACBF and Youpla Ronald Joseph Pattenden, Jonathan Law, Bryn Elwyn Jones and former officers Michael Brendan Wilson and Geoffrey Peter Clayton for breaches of their duties. The court has listed the matter for trial to begin on February 9, 2026.
