By Chris Lang 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.
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Investors file formal complaint against Advanced Global Trading – could this raise questions for AGT’s partners the Lotus F1 Team?
Could the controversy surrounding Advanced Global Trading raise questions for AGT’s partners Lotus F1 Team?
Advanced Global Trading: “Any price for VCUs is meaningful if a buyer can be found at such price”
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.
Advanced Global Trading sold at least US$25 million of voluntary carbon credits as investments
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.
Another response from Advanced Global Trading: “We see no utility for our clients or stakeholders in corresponding with you again”
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.