Ireland faces huge costs as emissions surge

Greenhouse gas emissions have significantly increased in Ireland, making achievement of Ireland’s long term decarbonisation goals “ever more difficult”. That’s according to the Irish Environmental Protection Agency (EPA), which revealed the nation saw a 3.5% increase last year. Emissions in the energy sector rose by 6.1%, transport emissions by 3.7% and agriculture emissions by 2.7%. […]

Germany seeks carbon credits to offset official travel

Germany has launched a tender process to buy more than 235,000 credits to offset last year’s carbon emissions from business travel. The government is compensating for the climate footprint of all its official travel through UN-certified carbon offsets, according to the UN Framework for Convention on Climate Change (UNFCCC). The tender process is open until […]

MEPs vote to reduce emissions trading carbon credits

Members of the European Parliament (MEPs) have backed proposals to reform the EU Emissions Trading System (ETS) beyond 2021 to balance greater cuts in greenhouse gases. The EU ETS works as a ‘cap and trade’ system and is designed to cut pollution by making businesses pay for producing greenhouse gas emissions. The system has however […]

Fraudulent firms’ £3.5m carbon credit scams

The management teams of two companies running carbon credit scams have been banned from trading. The disqualifications follow an Insolvency Service investigation into their fraudulent selling of voluntary emission reductions (VERs), a type of carbon credit, to members of the public as an investment. Both companies lied about the nature of the VERs they were selling, which are intended to be retired by businesses or individuals to […]

Five private firms win in $13m climate auction

The World Bank has allocated $13 million (£10.7m) through its third climate auction. A total of 13 companies participated in the online Pilot Auction Facility (PAF), with five firms winning contracts. That gives them the right to sell their future carbon credits to PAF at a fixed price of $2.10 (£1.7)/carbon credit. If redeemed, these […]

New £152m green bond to protect forests

A £152 million green bond to support private sector development and prevent deforestation in developing countries has been launched. The five-year bond has been sold to major global institutional investors including CalSTRS, Theehouse Investments, TIAA-CREF and QBE. The bond will be listed on the London Stock Exchange. It has been issued by the International Finance […]

Green company boss disqualified for carbon credits scam

An acting director of a green company has been disqualified for 13 years for his actions. He sold duplicated carbon credits and tried to cover it up, according to the Insolvency Service. John Coates, although not formally appointed a director of Green Deal Advice 247 Limited in Lancashire, was the dominant driving force. He was […]

Director disqualified for selling carbon credits

The director of a commodities company has been disqualified for selling carbon credits as investments. James Michael Cable from London-based firm Beta Commodities cannot promote, manage or be a director for 14 years. Between April and October 2012, his firm sold £681,000 worth of Voluntary Emission Reductions (VERs), a type of carbon credit, to members […]

Director of investment firm banned for 11 years for carbon credit scam

The director of an investment company has been disqualified for 11 years for selling unsuitable carbon credit investments. Darren Bartlett from Wealth Capital Limited (WCL) sold carbon credits on the basis they would increase in value when they were inappropriate, according to the Insolvency Service. Mr Bartlett cannot promote, manage or be a director of a limited company until 2027. The […]

Carbon credit network shut down over £36m boiler room scam

A major network which sold carbon credits to the public for investment has been shut down. According to the Insolvency Service, a total of 19 companies were involved in a boiler room scam, selling “well over” five million carbon credits to the public for more than £36 million. A carbon credit is a certificate or […]