If you’ve bought carbon credits as an investment, you would probably be pleased to hear from someone from the VCS Registry offering help with selling your carbon credits. Unfortunately, that’s not someone from the VCS Registry on the phone, it’s another scammer.
People who have bought carbon credits as an investment will be targeted again by companies hoping to find new ways of separating them from their money. Over the past few weeks, several people have been in touch with REDD-Monitor (via comments and by email) to say that someone from VCS Registry has contacted them offering to put them in touch with companies that offer an exit strategy for their carbon credits. Soon afterwards come follow up calls from the companies themselves.
I wrote to VCS Registry (which is run by a company called APX) and asked whether VCS Registry has contacted anyone who bought carbon credits as investments in order to suggest companies that might be able to sell the carbon credits. Here’s the reply:
APX has not and will not be reaching out to individuals to provide advice about how and where to sell their carbon credits.
APX also referred me to the following statement on the VCS Registry website:
Should I invest in VCUs?
Unlike instruments approved for use in compulsory carbon cap and trade programs, no entities are required to purchase and retire voluntary carbon offsets. Entities that voluntarily seek to offset their GHG emissions footprint (such as corporations, governments and individuals), project developers, traders and investors are active participants in the VCU market. Therefore, there is little ability to accurately forecast demand and supply in the voluntary carbon offset space. As a result, APX strongly believes that VCUs are not suited for individuals to target as a short, medium or long-term investment. Our view is shared by the UK Financial Services Authority as well as the International Carbon Reduction and Offset Alliance.
Note: APX has not and cannot provide advice to individuals about what companies to use to sell carbon credits.
So if someone rings you claiming to be from the VCS Registry and offering help selling carbon credits, ask for their name, job description, phone number and email address. Then contact Action Fraud.