Carbon Credits

This is done also as a Boiler room Scam . People Business been cold called and been offered Carbon Credits

The scam: A carbon credit is a generic term used for certificates or permits allowing carbon dioxide (CO2) emissions. When sold to a casual investor, they’re very unlikely to be able to sell or trade them.

How it works: Salespeople cold call investors, although contact can also come by email, post or at a seminar. You may be offered carbon credit certificates, voluntary emission reductions (VERs), certified emission reductions (CERs) or an opportunity to invest in ‘green’ schemes/projects that generate carbon credits as a return on your investment. The Financial Conduct Authority (FCA) says an increasing number of firms are using dubious, high-pressure sales tactics.

Why it’s a scam: Claims are made that carbon credits are ‘certified’, but this isn’t recognised by any UK compensation scheme. Projects generating carbon credits are usually based overseas, and authorities here can’t control their quality or validity. Crucially, there isn’t a viable secondary market for ordinary investors to sell or trade. The FCA doesn’t regulate carbon credits, so if things go wrong, you won’t be able to access the Financial Ombudsman Service (FOS) or Financial Services Compensation Scheme (FSCS).

How to invest legitimately: Trading carbon credits requires skill, understanding and experience, so seek independent advice before handing over money. It’s possible to invest in regulated funds, which place your money into the shares of companies that do good for the environment.

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