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Open Letter from CEO of Herakles Farms in Response to Report On ...

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lawyer, cancell<strong>in</strong>g the meet<strong>in</strong>g when the activist <strong>in</strong>sisted he will only meet them <strong>in</strong> the presence <strong>of</strong> his<br />

lawyer.<br />

Bruce claims that timber will be logged trimmed and surrendered <strong>to</strong> government for sale. But the<br />

Establishment Convention <strong>of</strong> 2009 states that<br />

3.3 Incidental Rights<br />

(a) Subject <strong>to</strong> the terms and conditions <strong>of</strong> this Convention, and only as necessary or desirable for the<br />

proper and efficient exercise <strong>of</strong> rights granted <strong>to</strong> Inves<strong>to</strong>r under Section 3.1, Inves<strong>to</strong>r and any Inves<strong>to</strong>r<br />

Party shall have the right:<br />

(iv)<br />

exclusively with<strong>in</strong> the Production Area, <strong>to</strong> plant, cut and utilize timber, <strong>to</strong> the extent Inves<strong>to</strong>r<br />

and Inves<strong>to</strong>r party deem necessary for the construction and ma<strong>in</strong>tenance <strong>of</strong> Infrastructure,<br />

without the need <strong>to</strong> obta<strong>in</strong> any further authorization or pay any further fees, and for other<br />

Inves<strong>to</strong>r Activities with<strong>in</strong> the Production Area, subject <strong>to</strong> Article 10;<br />

(v) exclusively, with<strong>in</strong> the Production Area, <strong>to</strong> take and use, subject <strong>to</strong> any limitations pursuant <strong>to</strong><br />

Article 10, free <strong>of</strong> charge (but not <strong>to</strong> sell <strong>to</strong> any other Person without the written approval <strong>of</strong> the<br />

Government), such water, earth, s<strong>to</strong>nes, rocks, sand, clay and gravel hav<strong>in</strong>g no significant<br />

commercial m<strong>in</strong>eral value other than as aggregate filler or other construction material, as Inves<strong>to</strong>r<br />

may consider necessary or useful for Inves<strong>to</strong>r Activities, without the need <strong>to</strong> obta<strong>in</strong> any further<br />

authorization or pay any further fees. Any activity conducted pursuant <strong>to</strong> this Section 3.3(a)(v)<br />

shall not be considered <strong>to</strong> be m<strong>in</strong><strong>in</strong>g for purposes <strong>of</strong> any Law.<br />

So when were these clauses or the Establishment Convention revised? The Establishment Convention<br />

clearly demonstrates the sweep<strong>in</strong>g powers <strong>in</strong>ves<strong>to</strong>r seeks and the greed which would have resulted<br />

there<strong>of</strong>. No wonder, the HF project has generated the most controversy even before it had been authorized<br />

<strong>to</strong> go ahead. Look at CARBON and the carbon credits that HF <strong>in</strong>tends <strong>to</strong> reduce by clear<strong>in</strong>g forests. HF<br />

forces government <strong>to</strong> surrender its rights and benefits <strong>to</strong> such a naturally generated product, (if<br />

environment was left <strong>in</strong>tact) <strong>to</strong> <strong>in</strong>ves<strong>to</strong>r <strong>in</strong> the follow<strong>in</strong>g conflated clause.<br />

4.11 Facilitation <strong>of</strong> Permits, Licenses, and Authorizations.<br />

4.14 Carbon Credits<br />

Government undertakes <strong>to</strong> promptly provide <strong>to</strong> Inves<strong>to</strong>r all certificates, consents, authorizations,<br />

and other support reasonably requested by Inves<strong>to</strong>r <strong>in</strong> connection with the application for or<br />

monetization <strong>of</strong> the Credits.<br />

13 Other Taxes and Payments<br />

13.3 Carbon Credits<br />

Government acknowledges that <strong>to</strong> the extent that Inves<strong>to</strong>r realizes certified emission reduction credits<br />

or other carbon or carbon-equivalent emission reduction credits, or any correspond<strong>in</strong>g monetary<br />

value or cost sav<strong>in</strong>gs that results <strong>from</strong> greenhouse gas emission reductions, whether created by<br />

Inves<strong>to</strong>r, any Inves<strong>to</strong>r Party, any Project participant or any Third Party act<strong>in</strong>g under the direction<br />

<strong>of</strong> Inves<strong>to</strong>r or any Inves<strong>to</strong>r Party (“Credits”) associated with the Inves<strong>to</strong>r Activities, Inves<strong>to</strong>r alone<br />

shall be entitled <strong>to</strong> all such Credits and all correspond<strong>in</strong>g cost sav<strong>in</strong>gs.

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