By Chris Lang In October 2019, Andrew Penman, a journalist at The Mirror contacted REDD-Monitor. I’d been in touch with Penman a few times in the past, mainly because he’s one of the few journalists in the UK who has regularly exposed the boiler room scams selling carbon credits as investments to retail investors.
“Airlines are taking action on climate change, but we need to do a better job of telling people that.” That’s Alan Joyce, the Chief Executive Officer of Qantas Airways, in a statement he put out last week. “I’m proud of what Qantas, and our customers, are doing,” he adds.
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.
In July 2017, a group of over 150 people who had been scammed into buying “carbon benefit units” got in touch with REDD-Monitor. Several London-based boiler room operations, including Industry RE, had sold them the “carbon benefit units”, supposedly as investments. Unfortunately they were worthless.