Since 2012, the Lotus Formula 1 Team claims to be “targeting carbon neutral status”. It is doing so with the help of Advanced Global Trading – a Dubai-based company selling carbon credits as investments.
“Caring for the environment is something that Advanced Global Trading has been doing ever since they first opened their doors back in 2010.” That’s the opening sentence from a recent press release from Advanced Global Trading, a Dubai-based company that sells voluntary carbon credits as investments.
Advanced Global Trading is a Dubai-based company that sells voluntary carbon credits as an investment. As with any company doing so, the question is whether the company is a boiler room operation, selling near worthless carbon credits at hugely inflated prices.
Advanced Global Trading sells voluntary carbon credits to members of the public as an investment. The company’s brokers cold call people and attempt to persuade them to invest. “For a minimum investment of $25K you too can invest in Carbon and make a difference,” the company states on its website.
On 11 May 2017, four men were sentenced in Blackfriars Crown Court in London to jail for selling precious metals as investments. The metals were almost worthless. The conmen duped retail investors out of £7.75 million.
Enviro Associates continues to contact people who have been scammed into buying carbon credits. In its latest email, it doesn’t say that it can sell the carbon credits, instead offering “the latest information regarding the market”.
In 2013 the top story on REDD-Monitor was the carbon credits as investments scam. All of the top ten posts on REDD-Monitor were about this story, which involves companies (largely UK-based) pushing carbon credits onto unwary retail investors.
Wellz Zable is another company based in London that is selling carbon credits as investments. “Carbon credits provide investors with a unique opportunity to become involved in an innovative and rapidly growing asset class,” the company claims on its website, “whilst also helping to mitigate the worlds emission of carbon dioxide.”