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.
Tag: Carbon Credits
Prince Charles’ offshore investment in Sustainable Forestry Management Ltd: A cautionary tale featuring conflicts of interest, a web of offshore companies, carbon credits, transfer pricing, and tax avoidance galore
By Chris Lang Sustainable Forestry Management Ltd was the name of a company incorporated in the Bahamas in October 1999. The company set up forestry projects and traded carbon credits. Its directors included Eric Bettelheim (Executive Chairman and General Counsel), Alan Bernstein (Chief Executive Officer), and Hugh van Cutsem (Director).
A company calling itself “Delta Financial Markets” is running a recovery room scam
Earlier this week, “Fallguy” left a comment on REDD-Monitor. “Has anyone had dealings with Delta Financial Markets Ltd?”, Fallguy asked.
Some questions for Stephen Hooper about the “carbon benefit units” sold from his April Salumei REDD project in Papua New Guinea
April Salumei is a REDD project in Papua New Guinea. Various companies, including Qantas, Eneco Energy Trade, and Norwegian supermarket chain Rema 1000, have bought carbon credits from the April Salumei REDD project. Should you so wish, you can buy carbon credits from the project on the USAID-funded website Stand for Trees.
Is Wildlife Work’s Mai Ndombe REDD+ project “additional”?
For a REDD project to generate carbon credits, the project developer has to write a story about what would have happened without the project. This story, or baseline scenario, is crucial to REDD. As long as the actual deforestation is less than the deforestation in the baseline scenario, the REDD project can generate carbon credits.