Carbon scams are becoming widespread
YOUR excellent feature on the “carbon con men, Friday, November 8” should serve as a warning.
Investors have been paying thousands of pounds for overpriced carbon certificates said to be linked to environmentally-friendly projects such as tree planting.
There is no resale market for the certificates and investors typically lose every penny.
The UK’s Financial Services Authority has issued warnings about investing in the unregulated trade of carbon credits. One carbon credit is supposedly worth one metric tonne of carbon dioxide. An Oxford computer scientist stated it is not possible to reliably measure carbon emissions in tonnes at all so the whole concept is nebulous.
These scams are becoming ever more widespread due to legislation to decarbonise our energy supply and to invoke carbon budgets in the naive belief it will affect the climate.
It is another inflated South Sea bubble waiting to implode.
The Climate Change Act enacted by the Labour Party in 2008 has detrimental implications for our financial and energy security and played right into the hands of shady green entrepreneurs.
SUSAN THOMAS
Magdalen Road
Oxford
Investors have been paying thousands of pounds for overpriced carbon certificates said to be linked to environmentally-friendly projects such as tree planting.
There is no resale market for the certificates and investors typically lose every penny.
The UK’s Financial Services Authority has issued warnings about investing in the unregulated trade of carbon credits. One carbon credit is supposedly worth one metric tonne of carbon dioxide. An Oxford computer scientist stated it is not possible to reliably measure carbon emissions in tonnes at all so the whole concept is nebulous.
These scams are becoming ever more widespread due to legislation to decarbonise our energy supply and to invoke carbon budgets in the naive belief it will affect the climate.
It is another inflated South Sea bubble waiting to implode.
The Climate Change Act enacted by the Labour Party in 2008 has detrimental implications for our financial and energy security and played right into the hands of shady green entrepreneurs.
SUSAN THOMAS
Magdalen Road
Oxford
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