How California’s cap and trade market undermines environmental justice

Last week, Senator Bob Wieckowski (D-Fremont) and Senate President pro Tempore Kevin de León (D-Los Angeles) gave a press conference about a new bill, SB 775, aimed at changing California’s cap-and-trade scheme. The proposed bill would start a new cap-and-trade scheme in 2021 that would include no offsets, no free pollution allowances, and a per-capita dividend.

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Eco Planet Bamboo’s investors were “significantly let down”

EcoPlanet Bamboo is a US-based company that has established bamboo plantations in Nicaragua, South Africa and Ghana. Here’s how the company describes itself on its website:

EcoPlanet Bamboo is an innovative forestry company focused on integrated bamboo plantations and associated processing. We focus on the provision of a secure and certified source of fiber for timber manufacturing industries and markets globally. We currently operate in Central America, Southern and West Africa.

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“Bar Works has been facing difficulties with its banking facilities”, Managing Director Franklin Kinard tells investors

Bar Works is a company that buys retail spaces, converts them and rents them out as co-working offices. Renwick Haddow, the man behind the Capital Alternatives network of scam companies is a “key figure” behind Bar Works, according to an article on The Real Deal website. Bar Works, meanwhile, claims that Haddow is just a consultant to the company.

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An update on EcoPlanet Bamboo, Eco Resources Fund, and Premier Group (Isle of Man) Ltd: “Substantial recovery of value from the plantations may be unlikely”

The Eco Resources Fund was launched in July 2012 in the Isle of Man. Via a special purpose vehicle called ERF Limited, the Fund invested in bamboo plantations in Nicaragua and South Africa. The bamboo plantations are run by EcoPlanet Bamboo.

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Premier Group (Isle of Man) Ltd goes into liquidation. Inspector appointed to investigate Eco Resource Fund. What next for Troy Wiseman and EcoPlanet Bamboo?

EcoPlanet Bamboo runs bamboo plantations in Nicaragua, South Africa and Ghana. A UK company called EcoPlanet Bamboo (UK) Ltd sold “bamboo bonds” with a promise of “a 500% return on investment over a 15 year period” on an investment of US$50,000. But in December 2015, EcoPlanet Bamboo wrote to bondholders to tell them that their investment was not doing particularly well.

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EcoPlanet Bamboo’s Eco Resources Fund PCC to go into liquidation

A company called EcoPlanet Bamboo (UK) Ltd launched a “bamboo bond” in 2011. Investors were encouraged to hand over their money, which would be used to establish bamboo plantation in Nicaragua.

Camille Rebelo, one of the co-founders of EcoPlanet Bamboo, claimed that an investment of US$50,000 would see a return of 500% over 15 years. “It’s a guaranteed return to the investor”, she said.

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