Kendrick Zale used to sell carbon credits to retail investors. On 16 July 2014, in the High Court in London, the company was wound up in the public interest for making false claims about investment returns.
The Trend is Blue is a company that used to sell near-worthless carbon credits as investments. That’s the boiler room part of the carbon credits scam. Now the company rings people up to tell them that they have a buyer for their near-worthless carbon credits. For an advance fee, no doubt. That’s the recovery room part of the scam.
REDD-Monitor’s occasional series, Carbonballs features the howlers made by con artists selling carbon credits as investments. This time round, it’s Enviro Associates trying to explain carbon credits to gullible investors.
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.
In March 2013, REDD-Monitor wrote about a company called Anglo-Capital Partners, which was selling carbon credits as “a phenomenal alternative investment opportunity”. Last month, after an investigation by the Insolvency Service, Anglo-Capital Partners was ordered into liquidation in the High Court.
“Enviro Associates specialises in providing the opportunity to purchase Verified Carbon Standard (VCS) carbon credits within the de-centralised unregulated speculative voluntary carbon credit spot market for high risk speculative investment for the future and individual and corporate offset purposes.”
“Hamilton Carter are a specialist investment consultancy, focused in carbon credit trading, emissions offsetting, gold trading, property funds and other alternative investments.” If that statement from the company’s website doesn’t set off alarm bells, here are some aspects of the Hamilton Carter’s operations that will.
Almost a year ago, the BBC secretly filmed Luke Ryan, the director of Enviro Associates, making misleading claims about how much money can be made by investing in carbon credits. Ryan reckoned there was “serious money” to be made. Of course, we know he was lying. An online survey by the Financial Conduct Authority found that no one had made any money by investing in carbon credits.
In September 2013, I wrote about a company called Wellz Zable. The company is based in London and sells carbon credits as an investment. The website is full of the usual nonsense that these companies put out about carbon credits. Like this, “A number of buyers are purchasing different types of credits under all of the trading mechanisms in order to spread risk across their portfolio.”
Global Carbon Exchange sells carbon credits to individuals as an investment. Carbon credits, according to GCE, “have distinct attractions for investors who wish to benefit from the expected rises in carbon credit prices”.