Yesterday, REDD-Monitor wrote about the Althelia Climate Fund. The post was based on a new report published by Re:Common and Counter Balance. The report focussed on Althelia’s REDD projects in Kenya as well the financial structure of the fund.
Luxembourg
There are 6 posts filed in Luxembourg (this is page 1 of 1).
REDD inequity writ large: €4.4 million for Althelia Climate Fund in “management fees”, while villagers in Kenya ask “How is the carbon benefiting me?”
A new report by Re:Common and Counter Balance investigates the Althelia Climate Fund and its investment in a REDD project in Kenya. The report highlights the findings of a July 2016 visit to the Kasigau Corridor REDD+ project area in Kenya.
The European Investment Bank and USAID are supporting REDD through Althelia Climate Fund: A financial intermediary based in the tax haven of Luxembourg
On 13 June 2013, the European Investment Bank agreed to give up to €25 million to Athelia Climate Fund. This is the first time that the European Investment Bank has funded a European carbon fund. It is also the first time that the EIB has supported REDD, and it is doing so through a financial intermediary.
An email trail of a carbon credit scam. Featuring Carbon-ex, 360 Invest Group, Carbon-Expert, and Colemans-CTTS
This is a story about how a pensioner was scammed into buying carbon credits as an investment. Miriam contacted REDD-Monitor in August 2014, to ask whether her 4,000 carbon credits were worth anything. She told me that 360 Invest Group had persuaded her to buy the carbon credits and that she’d paid the money to a firm of solicitors, Colemans-CTTS LLP, in Kingston upon Thames.
360 Invest Group and Alternative Markets: Exit strategy of converting near worthless VERs to a CER market that is “walking on one leg”
This is Andy. He’s 66 and he worked all his life as a mechanic. He hasn’t got a pension fund, but he saved up £37,000. Until, that is, a company called 360 Invest Group persuaded him to “invest” the money in carbon credits. 360 Invest Group promised him he a minimum 10% return in the first year. Unfortunately, it didn’t work out like that.
Carbon-ex S.à r.l.: Carbon trading “industry-leader” or just another boiler room scam?
Meet Carbon-ex S.à r.l. “With 30 years bluechip experience, we are an industry-leader in trading carbon credits.” According to its website, that is. Unfortunately, the company’s website provides no information about its 30 years bluechip experience. Carbon-ex was incorporated in Luxembourg in October 2010. And the company’s website was registered only two years ago.