March 26, 2012

European, Japanese taxpayers unwittingly underwrite continued forest and tiger habitat destruction.

March 26, 2012 No Comments

Asia Pulp and Paper (APP) is clearing areas of Sumatra’s tropical forest and tiger habitat it legally contracted to protect under debt restructuring agreements ultimately backed by the taxpayers of Germany, Japan, France, Austria, Sweden, Finland, Italy, Spain and Denmark.
Pekanbaru, Sumatra; Gland, Switzerland: Asia Pulp & Paper (APP) has been accused of a “double default” on international creditors, after an investigation revealed that the company has decimated tropical forests it promised to conserve under “legally binding” debt restructuring agreements.
“APP Default on Environmental Covenant,” a new report from Sumatra NGO coalition Eyes on the Forest, shows that the company in 2004 agreed to protect high conservation value forest under debt restructuring agreements it made with taxpayer-backed financial institutions in nine countries.
The debt restructuring agreements were negotiated after APP in 2001 defaulted on a massive $US13.9 billion of debt and was delisted by the New York and Singapore stock exchanges.

United Nations Creates Position Dedicated to Environment

March 26, 2012 No Comments

Environmental organizations request quick action as negotiations resume at Rio+20
WASHINGTON, D.C.— Environmental organizations are hailing the U.N.’s recognition of the right to a healthy environment just as informal consultations on the agenda for the Rio+20 United Nations Conference on Sustainable Development resume.
Last week, the Center for International Environmental Law and Earthjustice, worked closely with Maldives, Costa Rica and Switzerland, to obtain a resolution from the U.N. Human Rights Council (UNHRC) establishing an independent expert on the right to a “safe, clean, healthy and sustainable environment.”
As the 19th session concluded last Friday, the resolution was adopted with more than 80 States co-sponsoring.