In November 2017, Fern published a report titled, “Unearned credit: Why aviation industry forest offsets are doomed to fail”. The report takes aim at the aviation industry’s planned carbon trading mechanism, the Carbon Offsetting and Reduction Scheme for International Aviation.
In 2011, a Swiss company called World Markets AG bought five million “carbon benefit units”. They came from the April Salumei REDD project in Papua New Guinea. World Markets sold the “carbon benefit units” at a profit of over US$5 million.
Earlier this week, Dennis Myles left a comment on REDD-Monitor. Myles had been “approached” by someone calling themselves Timothy Davies, who claimed to work for Verified Carbon Standard (VCS).
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.
There are many reasons not to buy voluntary carbon credits as an investment. The price is likely to fall over time. There is no secondary market. And you’re more than likely to be ripped off when you buy carbon credits.