The Emerald Covenant can be summed up as the covenant between all creatures in this Time Matrix for the peacful co-evolution of all species under the Law of One. As explained by Ashayana Deane, it was broken by some misguided entities who wanted to create an authoritarian control system where they would be masters and everyone else their slaves. In breaking the covenant, they disconnected the 12th stargate which created a false light inverted phantom earth. 

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This is called the Fall of Metatron and more details can be found at Emerald Covenant Update.

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The Turaneusiam race (ie us) was seeded here on Earth to reverse the fall of Tara and ultimately the fall of Metatron. A huge task  - so no pressure then!

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