New Forest Company

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The New Forests Company "is a UK-based sustainable and socially responsible forestry company with established, rapidly growing plantations" across Africa. [1]

According to the New York Times

"...New Forests Company, grows forests in African countries with the purpose of selling credits from the carbon-dioxide its trees soak up to polluters abroad. Its investors include the World Bank, through its private investment arm, and the Hongkong and Shanghai Banking Corporation, HSBC.
"In 2005, the Ugandan government granted New Forests a 50-year license to grow pine and eucalyptus forests in three districts, and the company has applied to the United Nations to trade under the mechanism. The company expects that it could earn up to $1.8 million a year.
"But there was just one problem: people were living on the land where the company wanted to plant trees. Indeed, they had been there a while..." [2]

Board

Accessed April 2012: [3]

Criticism

Contact

URL: http://www.newforests.net

Resources and articles

Related Sourcewatch

References

  1. New Forest Company Home, organizational web page, accessed April 12, 2012.
  2. New York Times In Scramble for Land, Group Says, Company Pushed Ugandans Out, organizational web page, accessed April 12, 2012.
  3. New Forest Company Board, organizational web page, accessed April 12, 2012.