COP28 is 'an international meeting marked by hypocrisy'

However, the Action for Solidarity with the Third World (ASTM) views it as "an international meeting marked by hypocrisy."

ASTM's primary focus lies on the intricacies of CO2 compensation systems, a practice criticised for its questionable nature. In essence, this involves wealthy nations or major corporations acquiring vast tracts of forests in the third world at minimal costs. These trees serve as vital CO2 sinks, allowing wealthy nations or corporations to claim credits and circumvent additional efforts to curb CO2 emissions.

This burgeoning business, estimated to be valued at up to $50 billion in the coming years, presents a lucrative avenue for profit. Notably, countries such as the Arab Emirates have expressed interest in acquiring land on the African continent equivalent to the size of Great Britain for CO2 offset purposes.

Michaël Lucas, General Coordinator of ASTM, voices concerns over the failure to reduce overall CO2 emissions through such practices. In addition, ASTM underscores the distressing aspect that this strategy resembles a new form of colonialism. According to ASTM, third-world countries stand to be exploited once again, with their resources diverted to fuel the consumption habits of wealthier nations, hindering their own developmental progress.