If IUCN Coin “does not collaborate with the International Union for Conservation of Nature”, why is the cryptocurrency called IUCN Coin?
And can IUCN’s lawyers really do nothing to prevent this?
In November 2023, I wrote about a company called IUCN Coin Ltd. In a press release, the company claimed to be, “Aligned closely with the International Union for Conservation of Nature (IUCN),” and that, “IUCN Coin leverages a vast network of experts and organizations to drive environmental progress”.
It’s a cryptocurrency, based on tokenised carbon credits.
I wasn’t convinced that IUCN Coin had anything to do with the International Union for the Conservation of Nature and in my post about the company I pointed out some of the red flags raised by IUCN Coin Ltd.
I also asked whether it was “yet another scam from an industry riddled with scams and frauds?”
IUCN’s response
Back in October 2023, I had written to IUCN’s Brussels office and the IUCN National Committee UK (IUCN Coin Ltd was incorporated in the UK in November 2022).
I asked for a confirmation that IUCN Coin had nothing to do with the International Union for the Conservation of Nature.
And I asked if IUCN Coin is misleading people into believing that this is an IUCN initiative, what actions would IUCN take to stop what appears to be a fraud carried out in IUCN’s name?
I did not receive a reply.
After the post was published, I tried again. I wrote to the IUCN press office. This time I received a response on the same day, with an apology that no one from IUCN had responded previously.
IUCN’s press officer told me that,
“I’m currently working on an official response for you but just so you know IUCN is aware of this company.”
I wrote back saying I’d be happy to post IUCN’s response, with an update on the existing post linking to the response.
I waited for the response.
A month later, I sent a reminder.
No reply came.
“This project does not collaborate with the IUCN”
Yesterday, a REDD-Monitor reader posted a link to the article on Twitter:
I had a look at the IUCN Coin website. Previously, under the headline “What is IUCN Coin” was a statement cut and pasted from UNEP’s website describing what IUCN is.
Now, there’s a description of IUCN Coin, followed by the statement that,
This project does not collaborate with the IUCN (International Union for Conservation of Nature).
Which leaves two questions.
If the project has nothing to do with IUCN, why is the cryptocurrency called IUCN Coin?
Can IUCN’s lawyers really do nothing to prevent any company from using the name IUCN?
Incidentally, on 22 December 2023, IUCN registered as an overseas entity with Companies House in the UK.