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Rainforest carbon credit schemes misleading and ineffective, finds report

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Friday, September 15, 2023

System not fit for carbon offsetting, puts Indigenous communities at risk and should be replaced with new approach, say researchersRainforest conservation projects are not suitable for carbon offsetting and a different approach should be used to effectively protect critical ecosystems such as the Amazon and Congo basin, a report has concluded.New research by UC Berkeley Carbon Trading Project looking into rainforest carbon credits certified by Verra, which operates the world’s leading carbon standard, found that the system is not fit for purpose. Continue reading...

System not fit for carbon offsetting, puts Indigenous communities at risk and should be replaced with new approach, say researchersRainforest conservation projects are not suitable for carbon offsetting and a different approach should be used to effectively protect critical ecosystems such as the Amazon and Congo basin, a report has concluded.New research by UC Berkeley Carbon Trading Project looking into rainforest carbon credits certified by Verra, which operates the world’s leading carbon standard, found that the system is not fit for purpose. Continue reading...

System not fit for carbon offsetting, puts Indigenous communities at risk and should be replaced with new approach, say researchers

Rainforest conservation projects are not suitable for carbon offsetting and a different approach should be used to effectively protect critical ecosystems such as the Amazon and Congo basin, a report has concluded.

New research by UC Berkeley Carbon Trading Project looking into rainforest carbon credits certified by Verra, which operates the world’s leading carbon standard, found that the system is not fit for purpose.

Continue reading...
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Who is the UAE sheikh behind deals to manage vast areas of African forest?

Through the firm Blue Carbon, Sheikh Ahmed Dalmook al-Maktoum’s carbon offsetting deals, which could one day be worth billions, have led to questions about previous business ventures• The new ‘scramble for Africa’: how a UAE sheikh quietly made carbon deals for forests bigger than UKFew people have made as big an impact in the carbon markets this year as Sheikh Ahmed Dalmook al-Maktoum. The young member of Dubai’s ruling royal family is behind a series of carbon offsetting deals covering enormous areas of African forest, which could one day be worth billions.Through the United Arab Emirates-based company Blue Carbon, the sheikh’s deals cover a fifth of Zimbabwe, 10% of Liberia, 10% of Zambia and 8% of Tanzania, collectively amounting to an area the size of the UK – and more are expected. Continue reading...

Few people have made as big an impact in the carbon markets this year as Sheikh Ahmed Dalmook al-Maktoum. The young member of Dubai’s ruling royal family is behind a series of carbon offsetting deals covering enormous areas of African forest, which could one day be worth billions.Through the United Arab Emirates-based company Blue Carbon, the sheikh’s deals cover a fifth of Zimbabwe, 10% of Liberia, 10% of Zambia and 8% of Tanzania, collectively amounting to an area the size of the UK – and more are expected.But concerns have been raised by those close to the agreements, as well as those potentially impacted by them, who did not want to be named. Those include questions about al-Maktoum’s previous business ventures, including his role in deals to sell Russia’s Sputnik V vaccine at a premium during the pandemic, and a Blue Carbon adviser who is a convicted fraudster in Italy.If the deals go through, the vast areas of forest and their biodiversity would join his businesses and other interests, which include e-sports, property and fossil fuel infrastructure. The carbon credits could be bought and sold by countries hoping to make up their Paris agreement commitments by buying carbon reductions and removals from elsewhere.Pandemic controversyDuring the Covid-19 pandemic, the young sheikh was involved in selling Russian’s Sputnik V vaccine, acting as a dealmaker with Ghana, Guyana, Lebanon and Pakistan at lucrative premiums in 2021, according to reports from the time.But the deals did not always go well: deliveries sometimes failed to arrive and the cost of the vaccines – sold to some countries at more than double the factory price – provoked uproar in some cases, resulting in calls for Ghana’s health minister to resign over the deal in 2021. The sheikh returned $2.85m he had received from the west African country as part of the deal, according to local media and Ghanian parliamentary records.Asked about the sheikh’s involvement in vaccine sales, Blue Carbon and the office for al-Maktoum declined to comment. “Blue Carbon’s business is restricted to carbon methodologies. We prefer to keep our responses focused on the role of Blue Carbon towards implementing what 200 countries have agreed upon in the Paris agreement,” the company said.Two years later, al-Maktoum has turned his attention to carbon trading. He has no previous experience in nature conservation projects.His deals come amid scrutiny of carbon markets and the role they can play in mitigating the climate crisis and slowing biodiversity loss, after a series of scandals in the unregulated voluntary market, which major companies have used for their sustainability commitments. Some experts have warned that if the rules for the official carbon market used by governments to meet the Paris agreement are weak, countries could end up trading meaningless credits and continuing to heat the planet while claiming otherwise.Christopher Davidson, a fellow in Middle East politics at Durham University and the author of a book about statecraft in Saudi Arabia and the UAE, said it was unlikely that al-Maktoum was operating without the approval of the UAE government in his business dealings.“There is a ticking clock in the UAE. They have to diversify the economy away from fossil fuels and they will have to take risks along the way. Rulers of the Gulf state will be judged on diversification of their economies and the environmental industry considered a major component of diversification,” he said.Cars pass a billboard advertising Cop28 on Sheikh Zayed highway in Dubai. Photograph: Kamran Jebreili/APFugitive adviserBlue Carbon said the firm had employees and advisers with previous experience in carbon markets. Samuele Landi, listed as one of two advisers to Blue Carbon, is a convicted criminal in Italy for fraudulent bankruptcy. He is also listed as the consul general for Liberia in the UAE.Landi, was the founder and CEO of Eutelia, one of Italy’s largest telecommunications companies. In December 2020, he was sentenced to eight years in prison for fraudulent bankruptcy. He was convicted in two separate trials for causing the collapse of a company, reportedly leaving hundreds of people unemployed. Landi, who has been at large since at least 2010, has always proclaimed his innocence. He says that the initial investigation into him was “baseless” and that he is appealing the convictions.Today, Landi lives as a fugitive. Italy has filed numerous extradition requests for him in the UAE. Rome has issued a warrant for his arrest.Landi is presented by Blue Carbon as a “technology expert” who is “currently serving as the consul general of Republic of Liberia and is a chief technology officer in multiple IT companies”.The Guardian contacted Landi through his lawyer. Writing on WhatsApp from a UAE number, when asked about his role at Blue Carbon, he said he “is not authorised to talk on their behalf”.Blue Carbon said Landi’s role as consul general for Liberia was not linked to the deal between the company and the African state. They said Landi was an independent adviser, not an employee, and had blockchain expertise relevant to carbon markets.“In light of your inquiries concerning Mr Landi’s legal history, Blue Carbon asserts that comments on his past are beyond the scope of our organisation’s purview. For any inquiries pertaining to Mr Landi’s personal legal matters, we direct you to seek a direct response from him,” they said. Additional reporting by Angela Giuffrida and Pjotr SauerFind more age of extinction coverage here, and follow biodiversity reporters Phoebe Weston and Patrick Greenfield on X for all the latest news and features

The new ‘scramble for Africa’: how a UAE sheikh quietly made carbon deals for forests bigger than UK

Agreements have been struck with African states home to crucial biodiversity hotspots, for land representing billions of dollars in potential carbon offsetting revenue• Who is the UAE sheikh behind deals to manage vast areas of African forest?The rights over vast tracts of African forest are being sold off in a series of huge carbon offsetting deals that cover an area of land larger than the UK. The deals, made by a little-known member of Dubai’s ruling royal family, encompass up to 20% of the countries concerned – and have raised concerns about a new “scramble for Africa” and the continent’s carbon resources.As chairman of the company Blue Carbon, which is barely a year old, Sheikh Ahmed Dalmook al-Maktoum has announced several exploratory deals with African states that are home to crucial wildlife havens and biodiversity hotspots, for land that represents billions of dollars in potential offsetting revenue. The sheikh has no previous experience in nature conservation projects. Continue reading...

The rights over vast tracts of African forest are being sold off in a series of huge carbon offsetting deals that cover an area of land larger than the UK. The deals, made by a little-known member of Dubai’s ruling royal family, encompass up to 20% of the countries concerned – and have raised concerns about a new “scramble for Africa” and the continent’s carbon resources.As chairman of the company Blue Carbon, which is barely a year old, Sheikh Ahmed Dalmook al-Maktoum has announced several exploratory deals with African states that are home to crucial wildlife havens and biodiversity hotspots, for land that represents billions of dollars in potential offsetting revenue. The sheikh has no previous experience in nature conservation projects.So far, the deals cover a fifth of Zimbabwe, 10% of Liberia, 10% of Zambia and 8% of Tanzania, amounting to a total area the size of the UK. In October, Blue Carbon signed its latest deal for “millions” of hectares of forest in Kenya. The company said it was also working on an agreement with Pakistan. More deals are expected in the coming months. The carbon assets associated with the deals could be bought up by major polluters and used towards their own targets under the Paris agreement.Blue Carbon is based in the UAE, where the Cop28 summit will begin this week. The company hopes credits from the schemes will be traded as country-level contributions to the 2015 Paris agreement, it said in a statement.However, concerns have been raised about the agreements, as well as about the sheikh’s previous business ventures, including his role in deals to sell Russia’s Sputnik V vaccine at a premium during the pandemic, and an Italian fugitive listed as a Blue Carbon advisor.The agreements come amid widespread scrutiny of the ability of carbon markets to fund climate change mitigation effectively while protecting biodiversity and the rights of communities.“Carbon markets are an important element of the puzzle because they can really channel resources to activities that otherwise would not be implemented,” said Axel Michaelowa, a carbon markets expert at the University of Zurich. “If the rules are interpreted in a very lenient way, we see rubbish credits being generated, then of course the trust in the market could take a big hit.”Sheikh Ahmed declined to be interviewed for this article through his office. Blue Carbon said its “vision with these projects is not only to accelerate global climate action but also to tackle crucial environmental challenges at the local level thereby ushering in community benefits and advancing sustainable development in the countries involved”.‘Huge swathes of land are being seized’While little detail about the Blue Carbon deals has been made public, the Guardian has spoken with people involved and has viewed details of one draft contract from Liberia in July. The deal would give the UAE firm the exclusive rights to sell the credits for 30 years, taking 70% of the sale of the credits. Under the rules of the Paris agreement, countries that sold the credits would not be able to use them for their own commitments.Sheikh Ahmed Dalmook al-Maktoum meets the president of Zambia, Hakainde Hichilema.Some of those involved in these deals highlighted that carbon markets provide much-needed financial support to African countries where other sources of climate finance were not delivering. However, others raised concerns, saying the size of the land deals amount to “a new scramble for Africa”.“Huge swathes of land across Africa are being seized by Blue Carbon via multiple, decades-long deals, sealing the fate of the very land that millions of vulnerable communities depend upon for their livelihood,” said Alexandra Benjamin, a forest governance campaigner with the NGO Fern, who focuses on Liberia and Ghana. “At Cop28, countries will meet and discuss the rules for carbon offsetting – these negotiators should call these deals for what they are: land grabs. Forest communities must have free prior and informed consent before any deal is signed,” she said.Many African leaders are enthusiastic supports of carbon markets to fund climate change mitigation following broken promises on other sources of finance. Kenyan president William Ruto who said the continent’s carbon resources are an “unparalleled economic goldmine”.Blue Carbon said the carbon projects would benefit communities and would operate in markets with stringent auditing. They said free, prior and informed consent was key to their project development strategy, underscoring the difference between the voluntary carbon market – where human rights issues have been a serious concern – and compliance markets.In Liberia, NGOs have raised questions about the implication of the potential agreement for communities’ land rights and people’s access to the forest, which is often essential to their livelihoods.David Obura, founding director of Cordio east Africa and head of the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES), said: “Carbon is one of the only contributions from nature to people that is easily monetised. So, it means that all those that are not monetised get excluded or forgotten about. There are such high risks of exclusivity and obtaining access and rights away from people.”In theory, revenue from the credits would fund climate adaptation and nature conservation in developing countries, protecting carbon sinks and biodiversity. The Blue Carbon projects would be among the largest of their kind, but governments are yet to sign off their inclusion in formal carbon trading under article 6 of the Paris agreement.The carbon trading system could see large polluting countries such as the UK, Saudi Arabia or China buy emission removals or reductions from countries in the developing world to meet their own targets through offsets. The UAE has sought to pitch itself as a leading purchaser of African carbon credits, pledging to buy $450m (£356m) of African credits by 2030 at the Africa Climate Summit in September.The Ruwais refinery and petrochemical complex in Al Ruwais, United Arab Emirates. Photograph: Bloomberg/Getty ImagesThe United Arab Emirates has the third biggest plans for oil and gas expansion in the world, analysis revealed this year. Its plans are surpassed only by Saudi Arabia and Qatar.Blue Carbon has signed a deal with First Abu Dhabi Bank, the UAE’s largest, to finance the forest carbon project investments in September. The UN Development Programme confirmed it is in contact with the firm about how to develop the schemes.Blue Carbon said it was committed to stringent rules about suitable methodologies for the carbon projects and would follow whatever governments agreed at Cop28. It said its team had previous experience developing carbon projects. Additional reporting by Angela Giuffrida and Pjotr SauerFind more age of extinction coverage here, and follow biodiversity reporters Phoebe Weston and Patrick Greenfield on X, formerly known as Twitter, for all the latest news and features.

Native forest logging ban in Tasmania could save state $72m, pro-market thinktank says

Analysis recommends the government stop subsidising its forestry arm and generate carbon credits, a move likely to be opposed by industry and conservationistsFollow our Australia news live blog for latest updatesGet our morning and afternoon news emails, free app or daily news podcastEnding native forest logging in Tasmania and valuing the state’s centuries-old trees as carbon storage could save the state at least $72m, according to a report by a pro-market thinktank.The analysis by the Blueprint Institute, to be launched on Wednesday, recommends the state government immediately stop subsidising its forestry arm, Sustainable Timber Tasmania, and announce logging will end in mid-2025.Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup Continue reading...

Ending native forest logging in Tasmania and valuing the state’s centuries-old trees as carbon storage could save the state at least $72m, according to a report by a pro-market thinktank.The analysis by the Blueprint Institute, to be launched on Wednesday, recommends the state government immediately stop subsidising its forestry arm, Sustainable Timber Tasmania, and announce logging will end in mid-2025.The institute said the Tasmanian government and opposition should work with the federal government to introduce a “robust carbon methodology” that allowed the state to generate carbon credits by stopping logging and introducing conservation measures.It estimated CO2 sequestration in Tasmania’s forests could be worth $345m, and provide a net benefit to the state of $72m after the cost of a transitional package for the timber industry was factored in.The institute’s chief executive, David Cross, said the economic potential of using native forests for carbon sequestration and tourism far exceeded the value of logging.“The taxpayer should not be subsidising environmental degradation to indulge the anti-competitive, protectionist fantasies of a small number of individuals with outdated and romanticised views of an industry,” he said.The report is likely to be contentious with both the forestry industry, which is backed by the Liberal and Labor parties, and with local conservationists, who argue logging should be stopped on environmental and economic grounds, and the decision should not depend on carbon credit revenue.Both groups are represented among 120 delegates at a three-day forestry economics congress organised by the Museum of Old and New Art (Mona) to address the question: what is the value of Tasmania’s forests?Academics continue to challenge the integrity of Australia’s carbon credit scheme. More broadly, critics of nature-based carbon credits say they are used to justify emissions from fossil fuel operations, not reduce CO2 in the atmosphere.Tasmanian environment organisations say the state should follow Victoria and Western Australia in phasing out native logging next year without allowing forests to be used to offset ongoing pollution. The Australia Institute has launched a campaign arguing “turning Australia’s forests into carbon offsets for the fossil fuel industry will only mean more pollution and more climate change”.The Blueprint Institute’s report relies in part on modelling by Australian National University environmental law professor Andrew Macintosh, a damning critic of how the domestic carbon credit system has been managed, but a supporter of using markets to help protect and restore nature.The institute said the assumptions it used deliberately overstated the costs and minimised the benefits of stopping native forest logging. When it took a less conservative approach it found the net benefit of ending the practice could be as much as $936m.It recommended the state meet future timber demands by expanding plantations, and introduce incentives to boost private investment in tree farms.skip past newsletter promotionSign up to Afternoon UpdateOur Australian afternoon update breaks down the key stories of the day, telling you what’s happening and why it mattersPrivacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Privacy Policy. We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply.after newsletter promotionIt was sharply critical of Sustainable Timber Tasmania’s “unusual and declining transparency” compared with other state forestry agencies, and said it was likely to be deterring private investment in plantations.The Tasmanian forestry minister, Felix Ellis, said he had not seen the report, but was not surprised Blueprint had recommended an end to native forestry as it had made similar recommendations on Victoria and New South Wales. He said the “reality is that plantation timber alone is not sufficient to meet Australia’s timber needs”.“Ending sustainable native forestry will not reduce our nation’s timber needs. It will almost certainly lead to increased timber imports from jurisdictions with weaker environmental protections than our own,” Ellis said.A Labor Environment Action Network report this year said 88% of timber produced in Australia comes from plantations and just 12% from native forests, but cited government data showing few tree farms have been planted since 2010 and the total plantation area was falling.The Mona forestry congress has been convened by artist and curator Kirsha Kaechele, the wife of museum owner David Walsh, who said she became interested in economics when she bought a house in New Orleans and discovered a 100-year-old oak tree in the back yard. She said she realised the tree hadn’t been factored into the selling price and decided “valuing nature seems a topic worth investigating”.A report by the Australia Institute to be released at the congress said forestry accounted for just 1% of Tasmania’s jobs and its economic importance to the state had been overstated. It said 97% of forestry on privately owned land was already in plantation timber.The Australia Institute’s Tasmanian forests spokesperson, Vanessa Bleyer, said the report showed the “long-held myth that we need native forest logging for the survival of regional towns in Tasmania” was a fallacy given many places had already economically diversified.

Amazon Rainforest Destruction Slows Sharply Year to Date, Report Says

By Jake SpringSAO PAULO (Reuters) -Destruction across the Amazon rainforest so far this year has slowed dramatically, down 55.8% from the same...

SAO PAULO (Reuters) -Destruction across the Amazon rainforest so far this year has slowed dramatically, down 55.8% from the same period a year ago in a major turnaround for the region vital to curbing climate change, according to an analysis provided to Reuters.The analysis by the nonprofit Amazon Conservation's MAAP forest monitoring program offers a first look at 2023 deforestation across the nine Amazon countries. Brazil, Colombia, Peru and Bolivia all showed declining forest loss."These data show there still is hope for the Amazon," said Matt Finer, an ecologist and MAAP's director.The Amazon, the world's largest rainforest, helps to curb global warming because its trees absorb huge amounts of carbon dioxide.The drop coincides with a shift since last year to pro-conservation governments under leftist presidents in Brazil and Colombia.Analysts credit most of the decline to stronger environmental law enforcement in Brazil - home to the majority of the forest - under President Luiz Inacio Lula da Silva, who assumed office on Jan. 1. His predecessor Jair Bolsonaro had advocated clearing rainforest land for mining, ranching and other uses.The success at reining in deforestation will give Amazon countries more leverage to push for conservation funding at the upcoming United Nations COP28 climate summit, experts said.Amazon old-growth forest loss fell to 9,117 square kilometers from Jan. 1 to Nov. 8, down 55.8% from the same period in 2022, according to MAAP.That is an area about the size of Puerto Rico but still the lowest level since at least 2019, the first year more accurate rapid satellite deforestation alerts became available.Carlos Nobre, an earth systems scientist at University of Sao Paulo and a co-founder of the Science Panel for the Amazon research collective, called the data "wonderful news."In 2021, more than 100 countries - including many from the Amazon - pledged to stop deforestation globally by the end of the decade.Nobre said such a large single-year decline makes him optimistic the Amazon at least can reach that target.The MAAP analysis also drew on NASA data to estimate that the Amazon contains more than 37 billion metric tons of carbon, which would be released into the atmosphere if the forest is destroyed. That is roughly equivalent to 2.5 times the greenhouse gas emissions from all sources globally in 2022, from coal power plants to cars, according to European Union data.That estimate is likely low as there are some holes in the data, Finer said.The highest levels are in the southwestern Amazon in Peru and the northeast in Guyana, Suriname and parts of Brazil and Venezuela, the MAAP data shows.Deforestation is the largest source of greenhouse gas emissions in Amazonian countries. As destruction falls, the massive decline in emissions will bolster Brazil and others headed into the upcoming United Nations COP28 climate negotiations, which begins on Thursday, Nobre said.Brazil's Lula has led a push among its Amazonian neighbors and other rainforest countries to get rich nations to pay for woodland conservation."With this data, Amazonian countries will have incredible power during COP28," Nobre said.DECLINES FROM COLOMBIA TO PERUBrazil is home to 60% of the Amazon and accounts for the largest part of the decline.MAAP's independent analysis showed a 59% drop in primary forest loss in Brazil, which broadly confirms the trend shown by the country's government-produced data.Finer credited Lula's stronger enforcement of environmental laws for the decline.Colombian destruction declined 66.5%, perhaps due to the environmental policy of President Gustavo Petro or shifting attitudes on deforestation among former guerilla fighters who control areas of the forest, Finer said. Peru's forest loss decreased by 37%.Bolivia saw a surge in forest loss last year, ranking third highest after Brazil and the Democratic Republic of Congo, according to data from monitoring initiative Global Forest Watch.But MAAP data shows that Bolivian forest loss fell by nearly 60%. While the country is battling massive wildfires, many of them are not in the Amazon, Finer said.It was not immediately apparent what drove the decline in Peru and Bolivia, Finer said.The data extends through Nov. 8, but the remainder of the year is a low period for deforestation in much of the Amazon as torrential rains hit and make it difficult for loggers to penetrate deep into the forest.MAAP's forest loss analysis is based on data from a European Space Agency's rapid alert satellite and the finalized annual figures will be slightly higher, Finer said.The primary forest loss is overwhelmingly from human-caused deforestation but includes some natural loss as well, such as high winds knocking down trees.(Reporting by Jake Spring; Editing by David Gregorio)Copyright 2023 Thomson Reuters.

Panama's Supreme Court Declares 20-Year Contract for Canadian Copper Mine Unconstitutional

Panama's Supreme Court has unanimously declared a 20-year concession for a Canadian copper mine that had sparked weeks of protests as unconstitutional

PANAMA CITY (AP) — Panama’s Supreme Court ruled unanimously Tuesday that a 20-year concession for a Canadian copper mine that has been the focus of widespread environmental protests was unconstitutional.Opponents of the Cobre Panama mine argued it would damage a forested coastal area and threaten water supplies. The announcement of the nine-member court's decision after four days of deliberations set off cheers among a crowd of people waiting outside and waving Panamanian flags.“This is what we had been waiting for,” demonstrator Raisa Banfield said after what she called an agonizing wait. “The president has to suspend (mine) operations today."Minera Panama, the local subsidiary of Canada’s First Quantum Minerals, which operates the mine in central Panama, said in a statement that “Cobre Panama acknowledges the court’s decision.”“We want to affirm our unwavering commitment to regulatory compliance in all aspects of our operations within the country,” the company wrote. "We will comment further as additional details on the ruling are made public.”The mine employs thousands and accounts for 3% of Panama’s gross domestic product.In March, Panama’s legislature reached an agreement with First Quantum allowing Minera Panama to continue operating the huge copper mine for at least 20 more years. The open-pit mine was temporarily closed last year when talks between the government and First Quantum broke down over payments the government wanted.The contract, given final approval Oct. 20, allowed the subsidiary to continue operating the mine in a biodiverse jungle on the Atlantic coast west of the capital for the next 20 years, with the possibility of extending for a further 20 years if the site remained productive.The dispute over the mine led to some of Panama's most widespread protests in recent years, including a blockade of the mine’s power plant. Protesters also blocked parts of the Pan American highway, including a stretch near the border with Costa Rica. Just before the ruling was announced, they opened the roadway so freight trucks could get through.Minera Panama said in a statement earlier this month that small boats had blocked its port in Colon province, preventing supplies from reaching the mine. Naval police reported that a ship carrying coal decided to turn back due to “hostility from a group of protesters who from their boats threw rocks and blunt homemade objects” before being dispersed.The protesters, a broad coalition of Panamanians, feared the mine’s impact on nature and especially on the water supply.Since the protests began, the government nearly passed legislation that would have revoked the contract, but it backtracked in a debate in the National Assembly on Nov. 2.Protesters' last hope was for Panama’s courts to declare the contract unconstitutional.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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