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 […]

World Bank to buy carbon credits from Philippines

The World Bank has committed to buying carbon credits from landfill operators in the Philippines. It could purchase around 1.7 million carbon credits until 2020. An agreement with Land Bank of the Philippines (LANDBANK) allows local government units and operator of sanitary landfills to sell carbon credits to the World Bank. These landfills need to be part of […]

London-based company faces closure for carbon credit scam

The High Court has ordered to shut down a London based company for a carbon credit scam. Mulberry Wynford offered investments in carbon credits and diamonds to the public according to an investigation by the Insolvency Service. The company claimed it was headquartered in London, had more than 150 years of combined industry experience and had […]

Save forests and get carbon credits

A Californian forestry company has been rewarded with carbon credits for preserving a forest. The 4000 acres of coastal habitat south east of Myrtle Beach, South Carolina has been given the carbon credits as part of a Government scheme. More than 162,000 carbon credits have been awarded to the company. One carbon credit is equal […]

UK buying £50m of carbon credits then cancelling them

The UK is buying £50million worth of carbon credits from developing countries under new plans announced during the UN’s climate talks. The COP19 summit wrapped up on Saturday with ministers declaring there was plenty of “homework” to do ahead of the next meetings due to be held in the next two years in Peru and […]

Angela Merkel supports back-loading in EU carbon market

Newly re-elected German Chancellor Angela Merkel is in favour of a ‘back-loading’ measure in the EU’s carbon markets to push up carbon prices. Proposals to temporarily ditch 900 million credits – which businesses buy and trade depending on their carbon emissions – need Germany’s backing to pass in the European parliament. Speaking on Wednesday at […]

Big vote on backloading in the EU

Today MEPs in the European Parliament passed a crucial measure which means the EU will now bring in ‘back-loading’ measures to bring down the price of carbon credits. The EU reckons there’s a surplus of 2 billion allowances in the EU Emissions Trading System (ETS) which has seen the price of carbon recently sink as […]