The Financial Services Authority (FSA) is warning consumers about the risks of investing in carbon credit schemes.
It specifically highlighted the risks of investing in voluntary emission reductions (VERs), which are "increasingly being promoted to UK investors". A carbon credit is a certificate or permit which represents the right to emit one tonne of carbon dioxide and they can be traded for money. The FSA said most of the schemes involve cold calling, with targets being told they could profit at a time when industries are having to off-set their emissions and governments are focusing on green developments. Although it stressed not all carbon credit schemes are scams, it added "experience and...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes