A leaked document purporting to be the original version of a Memorandum of Understanding (MoU) that Finance and Development Planning Minister, Samuel Tweah, committed Liberia to while on a visit to the UAE has contradicted the government's pronouncement about a very lucrative carbon deal.
The leaked document, which began circulating widely on social media last week, trashed earlier statements from the government that it had signed a US$50 billion climate fund agreement with the government of the UAE.
The MoU, according to the government, was signed with the Emirati government to implement carbon removal projects in the forestry sector in Liberia under Article 6 of the 2015 Paris Agreement and represents an important step towards promoting sustainable forest management practices and fighting climate change across Liberia, the government said in its statement.
But the leaked document revealed that Liberia did not sign an MOU with the UAE, but rather with Blue Carbon, a private company.
The leaked document had no mention of a 50-billion-dollar climate fund as claimed by the government, and that Blue Carbon, while the company's board chairman, Sheikh Ahmed Dalmook Al Maktoum, is an influential member of the ruling royal family, doesn't work in the name of the country.
The cover and signature pages of the leaked MOU indicate that the agreement is between Liberia and Blue Carbon and that there is no mention of the UAE as a party to the agreement in the 8-page document.
The MOU was signed by Finance Minister Tweah for Liberia, while Blue Carbon's Chief Executive Officer (CEO), Josaine Sadaka, signed for the company. There are, however, no financial terms in the document.
Under the agreement, Blue Carbon is charged with the responsibility to conduct feasibility studies, secure the respective accreditation of the cooperation framework, and create the right structure.
The company will also promote and engage the local communities to implement capacity-building initiatives for enhancing forestry initiatives in Liberia and is to create synergies and identify projects for COP 28 to be hosted in the UAE in 2023, including identifying forest areas and regions that can be utilized to earn carbon credits, the leaked document revealed.
Liberia has the potential to store approximately 11.7 million tons of carbon annually and generate up to 58.5 million dollars each year. Investing to profit from the country's carbon sector is acceptable only if the investment process and outcome are transparent and fair, experts have said.
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However, Blue Carbon's intentions are profit-driven, not goodwill, as per the leaked MoU, and the company wants the right to manage a certain hectare of Liberia's forest, sell carbon resources from there, and share the revenue with Liberia.
Many fear that the government is concealing the contents of the agreement from Liberia. The executive branch of the government, which sealed the deal on behalf of the country, is yet to make details of the MoU available to the Liberian people through their representatives at the Legislature.
Land rights advocates also fear that the government may attempt to seize land from communities, use it for carbon trading, generate billions in profit, and leave the landowners destitute. Under Liberia's Land Rights Law, most forested lands are owned by communities, not the government.
There is a global demand for landowners, including rural communities, to be empowered by their governments to directly engage in fair carbon trading and forest management agreements, earn revenue, pay taxes, and use excess funds to uplift their communities.
"This is what rural communities in Liberia need, and this is what we will demand," an advocate who prefers to remain anonymous, said.
The Daily Observer discovered through an investigation that one of the two members of the Board of Advisors of a company, Samuele Landi, is a consul general of Liberia. It was through Landi's instrumentality that the government struck the deal with the company.
Though the MOU exists, details about it could not be found on the company's media page or website, even though there are other MoUs signed with other countries and companies available on the website.
