UAE investors of carbon credits struggle to find buyers
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We have energy-efficient cars, companies, and even vacuum cleaners. Solar panels and non-smoking zones have become more prevalent, and we are more conscious than ever of our consumption and waste. There are more vegetarians and vegans in the world and even some people, called freegans, who only eat discarded food. And as with any new popular movement, there are people ready to exploit. The market for carbon creditswhich represent the right to emit one tonne of carbon dioxide, started out as a legitimate environmental effort by governments and corporations to cut down on greenhouse gases.
It then began making its way to individual customers. But unlike the regulated market, which was first formalised in the Kyoto Protocol, companies involved in the carbon credit scam buy credits in the voluntary carbon credit trading system dubai, which is not regulated by any authority and is much smaller. They buy carbon credit trading system dubai [of little to no value] and sell it for considerably more than it is worth.
One company is now attracting suspicion: Dubai-based Advanced Global Tradingheaded by Charles Stephenson, a British salesman who had spent the last decade working for a company specialising in audio-visual digital displays, Balfour Group.
For experienced traders in the carbon credits industry, and other journalists investigating carbon credit scams, soliciting money for these SEMs was highly suspicious. These companies often have an 18 to 24 month exit strategy and when the spotlight falls on them, it is not unusual for a company to suddenly change strategy to garner more investments and keep the company going, or to disappear entirely. AGT first launched in London aroundthen set up a trading floor in Dubai a year later.
In many cases with carbon credit scams, the staff are unaware of the ultimate business they are in, Mr Ager says. It also denied allegations that it told clients there was a price crash:. The UK company that was shut down has no relationship with any client contractual carbon credit trading system dubai otherwise of Advanced Global Trading in Dubai.
Therefore, there are no additional monies being sought from carbon credit trading system dubai or otherwise with the company having been shut down as you suggest. AGT has instituted a relatively new product Strategic Earth Metals which it offers to its interested clients. AGT has offered as an option for its carbon clients to trade into the new product upon commercial terms and conditions which carbon credit trading system dubai transparently described to any interested client. All of carbon credit trading system dubai shall be pursuant to a sale and purchase agreement between any interested client and AGT.
Thus, no one is being strong armed to take this option. Any clients that do will be pursuant to their investment decision at their sole discretion.
Regarding the pricing of carbon, there has not been any price crash as suggested in the blogs. AGT is currently doing a survey amongst its clients who have shown an interest in exiting out of their carbon position to determine what new price, if any, should be assigned to carbon credits. End of the day, any price for carbon is meaningful if a buyer can be found at such price. AGT has no plans to unliterally bring the price of carbon down.
We have always done everything we can to protect the interests and investments of our clients and will continue to do so. Neither firm carbon credit trading system dubai to a request for comment from RebelEconomy. The mentioned companies have nothing to do with us. Great News for the General Public, that these sorts of companies are being closed down. A number of scamed AGT customers are putting a legal case together if you want to join us pls contact me Timrogers hotmail.
Your email is kept private. Notify me of follow-up comments by email. Notify me of new posts by email. May 30, Farah Halime 2 Comments boiler-room operationscarbon credit scamscarbon tradingdubai carbon credit Tweet. It also denied allegations that it told clients there was a price crash: This article was posted in DubaiEconomy and tagged boiler-room operationscarbon credit scamscarbon tradingdubai carbon credit.
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