Since 2012, the Lotus Formula 1 Team claims to be “targeting carbon neutral status”. It is doing so with the help of Advanced Global Trading – a Dubai-based company selling carbon credits as investments.
“Caring for the environment is something that Advanced Global Trading has been doing ever since they first opened their doors back in 2010.” That’s the opening sentence from a recent press release from Advanced Global Trading, a Dubai-based company that sells voluntary carbon credits as investments.
Farah Halime, a journalist based in Cairo, reports that records from Dubai’s Department of Economic Development show that AGT’s license in Dubai will expire today. When she asked AGT whether it plans to renew the licence, the company re-sent her a statement it produced last week.
Two articles about Advanced Global Trading were published at the end of last week. One by Vivian Nereim, a journalist with The National, an Abu Dhabi English-language newspaper, and one by Farah Halime a journalist based in Cairo.
Advanced Global Trading is a Dubai-based company that sells voluntary carbon credits as an investment. As with any company doing so, the question is whether the company is a boiler room operation, selling near worthless carbon credits at hugely inflated prices.