Last week, the President of the Republic of Congo, Denis Sassou Nguesso, flew to Paris in a hired Boeing 787 Dreamliner, one of the most luxurious planes in the world. Le Figaro estimates that a one-way flight from Brazzaville to Paris would cost about US$500,000. Needless to say, Sassou Nguesso’s wife, Antoinette, travelled with him.
Alexandre de Juniac is a worried man. He’s head of the International Air Transport Association. And it’s not just the downturn in the global economy that’s got him worried. It’s the “flight shame” movement, which started in Sweden where it’s called flygskam, which De Juniac describes as the biggest threat to the airline industry in Europe.
Earlier this week, REDD-Monitor received an email from Brian Smith (name changed). Brian explained that about seven years ago he’d been scammed into buying carbon credits as an investment. Recently, Brian received an email from John Miles at a company called Verified Carbon Solutions. Miles said he was acting as a broker for Kentisbury Trust, a company looking to buy five million carbon credits.
Recently, British journalist George Monbiot launched a Natural Climate Solutions campaign. In the spirit of encouraging debate about the dangers of offsetting emissions from fossil fuels against the carbon temporarily stored in ecosystems, I wrote a post asking the question, “Is the new Natural Climate Solutions campaign a distraction from the need to leave fossil fuels in the ground?”
Earlier this week, an international group of more than 20 campaigners wrote a letter to The Guardian in support of natural climate solutions. “The world faces two existential crises, developing with terrifying speed: climate breakdown and ecological breakdown,” they write. “Neither is being addressed with the urgency needed to prevent our life-support systems from spiralling into collapse.”
The Financial Conduct Authority is asking anyone who was scammed by African Land or Capital Carbon Credits to complete a questionnaire and send documents to the FCA by 31 March 2019.
A REDD-Monitor reader, let’s call him Harry, got in touch last week with a question:
Does anyone have any info on Source Escrow? They claim to be trading at 63 St Mary’s Axe London under a Companies House registered Co at Godington Hall, Bicester. If I phone their direct line I get a “switch board” and I am not able to connect to the director Mr Kivell. They are offering a good price for VCCs BUT require a deposit of £2000 in an “Escrow” account to lubricate the transaction. Thanks.
On 18 January 2019, Sami Raja was sentenced to eight years in prison at Southwark Crown Court. He was found guilty of conspiracy to defraud and money laundering. Four other men were sentenced in September 2018. Between January 2012 and August 2013, they miss-sold carbon credits to retail investors through two companies, Harman Royce Ltd and Kendrick Zale Ltd.
Since May 2018, if you buy ice cream from Ben & Jerry’s Scoop Shop in Wardour Street, London, you will also buy a small part of a carbon credit. For every scoop of ice cream, a penny goes to buying carbon credits from the Cordillera Azul National Park REDD project in Peru.