scrubbedexpat141

Millhouse will probably be helpful on this one....

Just had the second or third call from a company in Abu Dhabi flogging these.

I asked a few questions and the bloke answered all quite well. I'm not going to buy any just wondered what the crack was with these?

hnd

This might help a bit: http://www.fsa.gov.uk/consumerinform.../carbon_credit

I've had a couple of these calls and I used to be in the trading business and this is something I would steer well clear of as I don't fully understand or more importantly what drives / influences it. I've found there are many other ways of losing money in things that I think I understand!!

Meow

AVOID!!

Millhouse

Next time someone calls you up about these, ask what happens to them at the end of this year when the legal basis of the Koyto Agreement expires.

Then say... "yes, I understand what you are saying, but you don't actually know do you?"

scrubbedexpat141

I assumed this much...but your advice is still appreciated.

OK wicked. I did wonder when he was quoting a 500% rise in value in the next 3-4 years. Also, I wondered why he kept telling me it was legit because they are on a register in Washington or something...

flares

it's a scammy industry

one of my old mates runs a carbon-consultancy thang on the costa del crime. he's a complete dodge-pot

http://www.sceptreco2e.com/news/

Meow

As Millhouse said, you can guarantee that the scammer on the phone has negligible understanding of carbon credits. And he won't be around to take the heat when people lose money and it all turns out to be a pack of lies.

mikewot

I don't get this whole carbon credits/carbon trading and especially companies who claim to be carbon neutral. When you see Tesco & Marks & Sparks trucks on the roads in UK with a banner on the side saying that they're carbon neutral I'm sorry I just don't get it. How can you power the shops and trucks without producing carbon? It's like these oh so smug drivers of hybrid cars, sorry mate but where does the power to recharge your vehicle come from? Almost 90% certain it's from burning fossil fuels.

Meow

Of course, but it's about what you do to neutralise the effect on the environment, by planting forests etc. Take with one hand, give with the other to allegedly cancel out the effect.

http://en.wikipedia.org/wiki/Carbon_neutrality

The Dean

If they call you again, can you let me know their name and contact details (seriously) please?

I'm not going to buy anything either - I just want to find out a bit more about the sort of firms that are promoting this market.

scrubbedexpat141

I'll send you a PM and if you give me an email address I can send you whatever it is they've promised to send me.

The Dean

That was the 'sales pitch' a firm tried to use on me - if you can demonstrate that you have enacted measures that reduce your emissions by one tonne, you get a credit (allowing you to emit one tonne) free of charge........ which you can sell to (presumably?) a polluter???

Millhouse

This is pretty much it... the idea is that it allows the emerging markets to develop rapidly and get an incentive from the west to do it in a least polluting way. Of course, the truth is not quite like at all. The emerging markets grow as they would (a lot of 'normal technologies' would qualify anyway), and sell the credits to the west so we can pollute. Net effect is more pollution.

The problem with these bits of paper is that there isn't much control or certification on how they are produced so you don't know if they actually did any carbon 'offsetting'. Anyhow, they all expire on 2012 unless someone does something. Hence they are being pushed now.

The only way carbon is reduced is if someone buys these papers and destroys them. Not through trading them.

I assume they aren't worth much now (not checked) given that we're close to expiry. I guess if they are extended then the value could rise... maybe by over 500% in a matter of 3-4 years

mikewot

Oh yes I understand the propaganda but thats exactly what it is, a load of old bollocks which really winds me up.
In my industry Europe has made aviation one of the whipping boys for pollution and often publish stats about how much carbon is emitted by aircraft. Leaving to one side the fact that the aviation industry responds to demand, there is focus on giving aircraft continous descent or climb or direct routing or optimal cruising levels when possible. But the biggest cause of holding (and carbon production) is that the punters all want to depart at the same times and arrive at the same times. The runway capacity is the biggest constraint, not ATC. {now breathe}
Now the ME are making noises about aviation pollution. Tell you what, the day they pull down Ski Dubai is the day I'll believe they're serious about environmental pollution!

Millhouse

quite. If people were actually serious, they would reduce their own consumption. Like the 'king nespresso machine that has appeared in our office... what an environmental disaster that is - all those little pots.