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However, according to the Tropical Peat Research Laboratory, at least one measurement has shown that oil palm plantations are carbon sinks because oil palms convert carbon dioxide into oxygen just as other trees do, [71] and, as reported in Malaysia's Second National Communication to the United Nations Framework Convention on Climate Change ...
British colonial deforestation efforts began in 1880 and were rapidly driven by commercial rubber and palm oil cultivation. Between 1990 and 2010, Malaysia lost an estimated 8.6% of its forest cover, or around 1,920,000 hectares (4,700,000 acres). [1] Logging and land clearing has particularly been driven by the palm oil sector. World Bank ...
The deforestation continued through the 2000s at a slower pace, alongside the expansion of palm oil plantations. Half of the annual global tropical timber procurement is from Borneo. Palm oil plantations are rapidly encroaching on the last remnants of primary rainforest. Much of the forest clearance is illegal.
Major floods in December 2021 were linked to climate change by several experts. [10] Agriculture is further threatened by droughts and floods. Rice yields may decline by 60%. Other potentially impacted products include rubber, palm oil, and cocoa. [5]: 2 Annual drought probability, which currently lies at 4%, may increase to 9%.
Two of the largest palm oil plantations in Peru are located on the west side of the Ucayali River, which flows from the Andes to the Amazon. From above, the surrounding landscape looks like ...
Products containing Certified Sustainable Palm Oil (CSPO) can carry the RSPO trademark. [4] Members of the RSPO include palm oil producers, environmental groups, and manufacturers who use palm oil in their products. In 2014, Indonesia accounted for 40% of global palm oil production and 44% of the total RSPO-certified areas. [5]
As a result, despite global economic uncertainties, rising geopolitical tensions, intensifying climate change concerns, and a strengthened plan for phasing out fossil fuels, oil and gas M&A ...
In northern Peru, the World Bank's business-lending arm is part owner of the Yanacocha gold mine, accused by impoverished farming communities of despoiling their land in pursuit of the precious ore. The bank and IFC have stepped up investments in projects deemed to have a high risk of serious and environment damage, including oil pipelines, mines and even coal-fired power plants, an ...