Carbon credits
Discussion
My mum has recently been offered carbon credits as an investment (and is highly sceptical of what was offered!). Does anyone have any experience of these or know how they work?
Having had a brief read of a couple of articles they seem to be quite abstract! How do you sell them if you've bought them, and more to the point where do they come from in the first place?
Having had a brief read of a couple of articles they seem to be quite abstract! How do you sell them if you've bought them, and more to the point where do they come from in the first place?
egomeister said:
My mum has recently been offered carbon credits as an investment (and is highly sceptical of what was offered!). Does anyone have any experience of these or know how they work?
Having had a brief read of a couple of articles they seem to be quite abstract! How do you sell them if you've bought them, and more to the point where do they come from in the first place?
This is the latest scam doing the rounds from the people who also brought you land parceling, penny shares and other brilliant ways to screw people out of their savings.Having had a brief read of a couple of articles they seem to be quite abstract! How do you sell them if you've bought them, and more to the point where do they come from in the first place?
It's completely unregulated so the usual gangs can ply their trade pretty much without fear.
There are several firms punting this as great returns but they can all be traced back to the same group.
Unless it is an accredited scheme being offered by an IFA, but I've not seen many, if any, of those.
I just had a quick Google and indeed the usual suspects appeared with shiney new websites.
Not only that, the FSA has actually picked up on it already: http://www.guardian.co.uk/money/2011/aug/05/fsa-wa...
Not only that, the FSA has actually picked up on it already: http://www.guardian.co.uk/money/2011/aug/05/fsa-wa...
Jonathan Phelan, head of the unauthorised business department at the FSA, says: "Since June, we've seen a significant rise in consumers reporting carbon credit trading schemes to the FSA. While carbon credit trading schemes don't automatically amount to investment schemes that require FSA authorisation, we are concerned that the majority of the firms being reported to us are using high pressure sales tactics and targeting vulnerable consumers with little or no knowledge of commodities and derivatives trading.
"We suspect that many of these firms are essentially overseas boiler rooms or landbanking firms simply selling a highly dubious new investment product and jumping upon the green/eco-friendly bandwagon. We strongly recommend that consumers seek advice from an FSA-authorised independent financial adviser before getting involved in the carbon credit trading market."
Looks like they have also worked out who is behind them as well.
Makes a pleasant change, not that they can touch them.
"We suspect that many of these firms are essentially overseas boiler rooms or landbanking firms simply selling a highly dubious new investment product and jumping upon the green/eco-friendly bandwagon. We strongly recommend that consumers seek advice from an FSA-authorised independent financial adviser before getting involved in the carbon credit trading market."
Looks like they have also worked out who is behind them as well.
Makes a pleasant change, not that they can touch them.Gassing Station | Finance | Top of Page | What's New | My Stuff