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Mongabay
Mongabay
Leaders in the Malaysian state of Sabah on the island of Borneo have begun to share more about a murky arrangement in which the rights to carbon and other ecosystem services from the state’s forests were sold to a foreign company. On Oct. 30, state authorities signed a “nature conservation agreement” with a Singaporean firm, Hoch Standard Pte. Ltd., and involving an Australian management consultancy called Tierra Australia. The deal ostensibly gave Hoch Standard the right to sell credits for carbon and other natural capital, such as clean water, from “over 2 million hectares (4.9 million acres…