Carbon credits scam

in Savings & Investments
21 replies 14.4K views
Just a heads-up that I got a cold call from some muppet trying to sell me carbon credits from an African environmental scheme at £6.25 each. The idea is that because George Osborne (Chancellor of the Exchequer) has just announced a carbon floor price of £16 a tonne as from 2013, the profit potential is huge.

One tiny little flaw in the argument is that there is no conceivable incentive for anyone, let alone a stranger, to introduce me to such a sure winner.

I tried to sound interested and asked to be sent a brochure, so I hope to find out some more details, although probably I won't receive anything (I found it hard to disguise my irritation and contempt).
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  • I too have been cold called by a company called the carbon advisory council, they may well be genuine and they put forward a convincing case for me to invest however I don’t know anything about carbon credit trading and would appreciate any advice from you guys about them and if they are indeed genuine or not.:question:
  • edited 13 July 2011 at 11:33AM
    ReaperReaper Forumite
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    edited 13 July 2011 at 11:33AM
    aloysius1 wrote: »
    I too have been cold called by a company called the carbon advisory council
    It's a scam. See previous discussions on the Motley Fool:
    http://boards.fool.co.uk/carbon-advisory-council-12225042.aspx?sort=whole
    and
    http://boards.fool.co.uk/carbon-advisory-council-12283551.aspx?sort=whole#12283551

    Never buy any financial product from a cold call. It's always a scam.
  • Loughton_MonkeyLoughton_Monkey Forumite
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    Hung up my suit!
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    When they phone again, offer to buy 1,000 of the credits and tell them you have £6,250 worth of Fair Trade Vouchers to pay for them.

    p.s. if you don't have any Fair Trade Vouchers, I can let you have some in return for some organic air miles, provided they are certified as local produce.
  • JegersmartJegersmart Forumite
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    I guess it is redundant to say that you should never invest in anything you do not understand :) Especially an instrument where you would probably struggle on the price discovery front as well.
  • Thanks for the info guys
  • IronWolfIronWolf Forumite
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    Just ask yourself, why would they sell them to you if they're going to be worth more soon?
    Faith, hope, charity, these three; but the greatest of these is charity.
  • Because that's what they do. Gold mines don't keep the gold they produce because the market price is currently rising. Their place in the economic chain is produce and sell. Brokers also sell, because that's their job. Investors and traders buy and sell. Brokers broker and producers produce. The carbon offset market is still very much in its infancy and as such, as a commodity, there are many questions and potential investors should do a lot of research and fully educate themselves if they are interested in exploring the market. It is however a real commodity and all the major investment banks and energy companies now have trading departments. Being in an early stage of development it can be considered a relatively high risk investment as exactly how the market will develop is unclear. But education is the key to making informed decisions, not soundbites based on no logic. If no-one sold anything when the market was rising, how would anyone buy, and how would the market rise? Think a little.
  • opinions4uopinions4u
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    DEZZ wrote: »
    Because that's what they do. Gold mines don't keep the gold they produce because the market price is currently rising.
    Yes they do.

    A more familiar body that controls the supply of a commodity is OPEC. They will often act in their own self interest to control production and supply of oil with a view to benefiting from the price impact of those actions.
  • jimjamesjimjames Forumite
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    DEZZ wrote: »
    Because that's what they do. Gold mines don't keep the gold they produce because the market price is currently rising. Their place in the economic chain is produce and sell. Brokers also sell, because that's their job. Investors and traders buy and sell. Brokers broker and producers produce. The carbon offset market is still very much in its infancy and as such, as a commodity, there are many questions and potential investors should do a lot of research and fully educate themselves if they are interested in exploring the market. It is however a real commodity and all the major investment banks and energy companies now have trading departments. Being in an early stage of development it can be considered a relatively high risk investment as exactly how the market will develop is unclear. But education is the key to making informed decisions, not soundbites based on no logic. If no-one sold anything when the market was rising, how would anyone buy, and how would the market rise? Think a little.

    Except the question was not about gold it was about carbon credits scam and being cold called to buy something.

    I would suggest that the same would apply if you were cold called offering to sell you gold.
    Remember the saying: if it looks too good to be true it almost certainly is.
  • ReaperReaper Forumite
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    Carbon credits seem to be the current favourite for discerning scammers.

    However there is no need to part with your money to get your fake carbon credits. You can cut out the middle man and go direct:
    http://www.freecarbonoffsets.com/genCert.do
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