UK newspaper the Daily Mirror has reported that an investor has lost £7,900 after being persuaded to invest the money in carbon credits, by the firm which subsequently went bust.
The investments were billed by the “London Carbon Credit Company” as something which could enable people to “Profit in an ethically sound fashion.”
One investor invested £5,000 and £2,900 in separate tranches of carbon credits.
“I have tried in vain to get my money back since the end of April and now it looks like they [the company] may have disappeared,” the investor is quoted as saying.
The company used logos from carbon credit certification schemes, including the Gold Standard Foundation, Verified Carbon Standard and Ethical Junction, although these companies were contacted by the Daily Mirror journalist and said that the London Carbon Credit Company was not authorised to use their logos.
An independent financial advisor was contacted by the Daily Mirror and said “I cannot find any information as to the current tradeable value of your reader’s carbon credits and am concerned that they may be impossible to trade and have little or no value.”
The FSA warned this month that it is receiving “many reports from people who have been approached by firms promoting carbon credits in the UK.”