Response from Phil Wombwell, ex-director of Eventus Alternatives: “Since 3 years have passed I would like you to consider removing the article in its entirety”

Aug 25, 2016

Three years ago, I wrote a post about Dubai-based Eventus Alternatives, a company that specialised in selling carbon credits to retail investors. A week after the post, Eventus Alternatives’ solicitors threatened to sue me for US$250,000. Three years later, the company’s ex-director, Phil Wombwell, wrote a nice email asking me to remove the post.

On its website, Eventus Alternatives claimed that, “Buy [sic] purchasing credits, individuals are helping the protect of the environment whilst enjoying impressive returns.” But Eventus Alternatives was buying carbon credits very cheaply and selling them with a large mark up. The carbon credits that Eventus Alternatives sold as investments are worthless.

Eventus Alternatives was one of Carbon Neutral Investments’ “Clearing Members”. When persuading people to buy carbon credits, Eventus Alternatives’ sales team referred to the fact that Carbon Neutral Investments was registered with the Financial Services Authority (now the Financial Conduct Authority). (See the sales emails from Eventus Alternatives, below.)

Before we look at Phil Wombwell’s most recent email, here’s a chronology of events, starting the day after my post about Eventus Alternatives went online.

20 June 2013

I received an email from Jennifer Arkhurst, Director & Solicitor (UK) at Arkhurst & Abdellah Consultancy JLT. She told me she had been appointed by Eventus Alternatives and attached the following letter:

21 June 2013

Arkhurst sent another email:

From: Jennifer Arkhurst
Date: 21 June 2013 at 09:29
Subject: Fwd: Letter Before Action – “Eventus Alternatives: Another carbon credit boiler room scam?”
To: reddmonitor@gmail.com, chris@chrislang.org
Cc: sp@eventusalternatives.com, dariush@beunique.com, phil@eventusalternatives.com

Dear Mr Lang

I have been reviewing the new comments on you site this morning and note the comments that you have made in the extract below. Could I have an explanation as to why there is still no response from you to the letter attached. I have clearly pointed out in the letter the inaccurate information posted on your site. I highly recommend you start editing and deleting comments on your site, I will revert to you next week with our next course of action.
________________________________________________

EXTRACT

“@Anon (#60) – Selling carbon credits at $10.45 does not “make everything OK”. To answer your questions:

1. I agree, this blog has turned into somewhat of a farce, as a result of the comments. I have amended the REDD-Monitor comments policy – comments that do not comply will be either deleted or edited. All comments now go into a moderation queue.

2. I’m not covering up for anyone. I’m just deleting or editing comments that do not comply with the comments policy.

3. I’m critical of carbon trading, partly because it does not address climate change, it just moves emissions from one place to another. Companies selling carbon credits as investments are part of the carbon market. Hence my interest.

4. If there is any information in the post about Eventus Alternatives that you believe to be inaccurate, please let me know. I would be happy to correct it.

I think you are exaggerating the power of this website. Nevertheless, I’ve removed the name of the person you refer to from all the comments. The REDD-Monitor comments policy asks commentators to avoid comments that are defamatory or libellous.

I deleted the example you gave – as you pointed out, it was fabricated. Your point is correct, however. What is posted on the internet is likely to turn up in search engines.

The email you gave is not valid.

I agree, it would be interesting to see how many sockpuppets have commented on other posts on REDD-Monitor. I think there were more on this post however than on previous posts. And in future sockpuppets will not be allowed to comment.”

—
Thanks & Regards

Jennifer Arkhurst
Director & Solicitor (UK)
Arkhurst & Abdellah Consultancy JLT
P.O. Box 340505
Almas Tower, 49th Floor
Jumeirah Lake Towers, Dubai, UAE

Comments had started to appear on REDD-Monitor within 30 minutes of the post going online. Many were from the same IP address, using different names.

In two days there were 60 posts. Many were attacking other commenters. Some were attacking Eventus Alternatives. Others were attacking me. I couldn’t tell which comments were complete fiction and which were genuine.

I tried to edit the comments, deleting parts that didn’t comply with the comments policy. But it was a sisyphean task. I decided to delete all the comments and close the post to further comments.

Things started to get interesting when Phil Wombwell accidentally copied an email to me. His colleagues continued the conversation:

From: Phil Wombwell
Date: 21 June 2013 at 13:58
Subject: Re: Letter Before Action – “Eventus Alternatives: Another carbon credit boiler room scam?”
To: Jennifer Arkhurst, reddmonitor@gmail.com
Cc: sp@eventusalternatives.com, dariush@beunique.com

I have taken this from his (chris lang) website

“I currently live in Jakarta. Since October 2008, I have been working on REDD-Monitor
http://redd-monitor.org/
, looking at the rapid developments in the world of ‘avoided deforestation’.”

From
http://chrislang.org/about-me/

Perhaps we should find a lawyer in Jakarta and make him aware that we after him

Phil

From: Jennifer Arkhurst
Date: 21 June 2013 at 18:18
Subject: Re: Letter Before Action – “Eventus Alternatives: Another carbon credit boiler room scam?”
To: Phil Wombwell
Cc: reddmonitor@gmail.com, sp@eventusalternatives.com, dariush@beuniqueuae.com

Dear Phil

I will research into reputable law firms in Jakarta and revert.

I had a response from Chris today, sent it to you, did you receive it? He has started, after further threats from me today, to edit and delete the defamatory material from his site and will respond in full to my letter shortly.
—
Thanks & Regards

Jennifer Arkhurst
Director & Solicitor (UK)
Arkhurst & Abdellah Consultancy JLT
P.O. Box 340505
Almas Tower, 49th Floor
Jumeirah Lake Towers, Dubai, UAE

From: Dariush Soudi
Date: 21 June 2013 at 18:20
Subject: RE: Letter Before Action – “Eventus Alternatives: Another carbon credit boiler room scam?”
To: Jennifer Arkhurst, Phil Wombwell
Cc: reddmonitor@gmail.com, sp@eventusalternatives.com

I think we should just dance with him, he is no longer a threat.

22 June 2013

Wombwell realised that these emails were copied to me. Oops:

From: Phil Wombwell
Date: 22 June 2013 at 06:08
Subject: Re: Letter Before Action – “Eventus Alternatives: Another carbon credit boiler room scam?”
To: Chris Lang
Cc: reddmonitor@gmail.com, sp@eventusalternatives.com, Jennifer Arkhurst, Dariush Soudi

Dear Chris Lang

I would like to apologise for the comment made below by my associate. Please understand that we have no intention to “dance” with anybody. We are treating this situation as an attack on our credibility and commercial situation and will approach it in a professional manner using the necessary legal procedures. I hope this does not antagonise nor cause unnecessary retaliation.

Phil Wombwell

25 June 2013

26 June 2013

I made a few amendments to the post on REDD-Monitor and sent the following email to Arkhurst:

From: Chris Lang
Date: 26 June 2013 at 09:03
Subject: Re: Letter Before Action – “Eventus Alternatives: Another carbon credit boiler room scam?”
To: Jennifer Arkhurst

Dear Ms Arkhurst,

As mentioned in my previous email (dated 21 June 2013), I have deleted all comments on the 19 June 2013 post:

Eventus Alternatives: Another carbon credit boiler room scam? (http://bit.ly/11KVtyX)

In 25 June 2013, you wrote referring to a thread of comments that continues to remain on REDD-Monitor. In fact I removed all comments that mention Eventus from REDD-Monitor several days ago. Could you provide the url to the “thread of comments”, please?

In response to the numbered allegations in your letter to me, dated 20 June 2013:

1. Company Status

All comments on this post have been removed. I have deleted the sentence that stated “I could not find any record of a live company called Eventus Consultancy registered in Dubai (or anywhere else) on Open Corporates website.” And replaced it with the following:

“Eventus Alternatives Commercial Broker LLC is incorporated in Dubai and holds a a valid commercial broker license to trade in carbon credits.”

2. Eventus Website Content

As I explain in the post on REDD-Monitor, Eventus confuses compliance carbon credits with voluntary carbon credits on its website and in its brochure. This is an observation, it is not an “attack”, as you claim in your letter dated 20 June 2013.

In 2011 and 2012, the average price of voluntary carbon credits remained more or less steady, while the price of compliance carbon credits fell. The price of carbon did not increase in 2011 and 2012 as the graph in Eventus’ company brochure suggests (http://bit.ly/135oFH8).

3. Eventus Terms and Conditions

I have removed the comments about the Terms and Conditions from the post on REDD-Monitor and replaced them with, “The following are extracts from Eventus Alternatives’ Terms and Conditions:” and “And here is the risk warning:”.

4. Sale Prices

As stated above, I have removed all the comments following the post. The only prices of carbon credits in the post are those given by Eventus Alternatives in its brochure.

Your statement that, “the company has never sold carbon credits at less or more than $10.75,” contradicts the information contained in the Eventus Alternatives brochure.

5. Warnings issued by the Financial Conduct Authority

In April 2013, the FCA issued a warning relating to Eventus Alternatives and three other companies. You can read about it on the Financial Times website (http://bit.ly/14NLhuJ). My post included the statement that, “This warning is no longer available on the FCA website”. I have now edited this paragraph to read as follows:

“In April 2013, the Financial Conduct Authority issued a warning stating that Eventus Alternatives and three other companies are not authorised under the Financial Services and Markets Act 2000. Eventus hired a legal firm to communicate with the FCA and to revise Eventus Alternative’s materials. The warning was removed from the FCA website on 2 May 2013 and the FCA has confirmed that it is satisfied that Eventus is not engaged in any regulated activities in breach of the FSMA. Voluntary carbon credits are not regulated in either the UK or the United Arab Emirates.”

6. Complaints made by ex-employees and customers

As stated above, I have removed all the comments following the post.

I trust that this now answers all of your issues and that no further action is necessary. In addition, I would be happy to give Phil Wombwell or any other representative from Eventus a right to reply in order to explain Eventus Alternatives’ business model. I would post a company response in full and unedited on REDD-Monitor.

Regards, Chris Lang

27 June 2013

Arkhurst sent the following letter, informing me that Eventus Alternatives was seeking US$250,000 from me:

2 July 2013

Another email from Arkhurst:

From: Jennifer Arkhurst
Date: 2 July 2013 at 06:47
Subject: Fwd:Letter Before Action – “Eventus Alternatives: Another carbon credit boiler room scam?”
To: reddmonitor@gmail.com

WITHOUT PREJUDICE

Dear Chris

I have not heard from you since sending out my letter below. This email is to give you a last opportunity to correct the damage you have caused before we launch into litigation and a substantial claim for damages against you. We await your response within the next few hours, failing which we shall commence litigation in Jakarta.
—
Thanks & Regards

Jennifer Arkhurst
Director & Solicitor (UK)
Arkhurst & Abdellah Consultancy JLT
P.O. Box 340505
Almas Tower, 49th Floor
Jumeirah Lake Towers, Dubai, UAE

5 July 2013

And another:

From: Jennifer Arkhurst
Date: 5 July 2013 at 12:26
Subject: Re: Fwd:Letter Before Action – “Eventus Alternatives: Another carbon credit boiler room scam?”
To: chris@chrislang.org, reddmonitor@gmail.com
Cc: sp@eventusalternatives.com, phil@eventusalternatives.com, dariush@beuniqueuae.com

Dear Chris

I have not heard from you and can only conclude that you no longer wish to cooperate and that litigation is the only way forward?
—
Thanks & Regards

Jennifer Arkhurst
Director & Solicitor (UK)
Arkhurst & Abdellah Consultancy JLT
P.O. Box 340505
Almas Tower, 49th Floor
Jumeirah Lake Towers, Dubai, UAE

That was the last I heard from Arkhurst.

18 September 2013

Dariush Soudi, the chap who wanted to dance with me, left a comment on REDD-Monitor:

Dear Chris would very much appreciate it if you deleted the title from the site as its damaging to Eventus. The information can be informative but the title is very damaging, please remove asap.

19 August 2014

Phil Wombwell sent me a “polite request”:

From: phil wombwell philwombwell@hotmail.com
Date: 19 August 2014 at 08:21
Subject: Polite Request
To: reddmonitor@gmail.com

Dear Chris

I am the ex CEO of Eventus Alternatives.

I was in correspondence with you last year regarding the article you posted on your website listed below:

http://redd-monitor.org/2013/06/19/eventus-alternatives-another-carbon-credit-boiler-room-scam/

My initial email was for you to remove the article and you chose to edit the article and leave the title as the same. Fair play to you. I think ultimately your crusade to stop as many brokers from selling VER carbon credits was successful. I agree your site is very powerful and always appears at the top of google searches. We, in fact, phased out selling VER’s from last summer and the last trade was done by October 2013. I have to say the negative publicity you did certainly had a major effect on that!

However, as a business we did sell other products but unfortunately the bad press affected the judgment of clients and closing deals on other products became extremely difficult. Our office subsequently closed in June 2014.

Despite your position on carbon sales we did in fact operate ethically and i have never ran a boiler room. I can guarantee to you that, unlike our counterparts AGT (who you also had a grievance) i have absolutely no police or legal cases surrounding incorrect licenses, fraud or otherwise in the UAE. I am still in contact with many clients despite having closed the office 2 months ago.

I write to you now to request, again, that you take the above article down. I am, quite simply applying for jobs and anybody doing a google search on my name will find this article and i have no doubt that, despite it being misleading to my character, it will scare off any prospective employer. Our website www.eventusalternatives.com is gone, our phone lines are dead, our office was closed over 2 months ago and above all we phased out carbon last year. If i am correct in saying your objective is to stop VER sales then you have achieved that 100% from my company. I see no point to keep this article up any longer as it is having a completely different effect now. You have achieved your goal, please respect my privacy in the UAE and discontinue your position to discredit my personal reputation any further.

Thanking you in advance.

Phil Wombwell

23 August 2016

Another email from Wombwell:

From: Phil Wombwell philwombwell@hotmail.com
Date: 23 August 2016 at 17:04
Subject: Article
To: reddmonitor@gmail.com

Chris

Its been just over 3 years since you posted the below article:

http://redd-monitor.org/2013/06/19/eventus-alternatives-another-carbon-credit-boiler-room-scam/

Initially when we wrote to you you did the honourable thing by editing the article to remove defamatory content. The title however still implies to readers that Eventus could have been a boiler room. Since 3 years have passed I would like you to consider removing the article in its entirety. The article still causes problems for obvious reasons and since 3 years have passed I hope you will agree enough is enough. I suppose the best case scenario is to provide you evidence that my company was not a boiler room. To this day still have the same phone number for 15 years I have lived in Dubai and the same email and all clients are still in touch with me whilst we try to unravel the mess. As the CEO of Eventus (dissolved in 2014) I do take full responsibility for adding VER carbon credits to our product portfolio. I also can admit that our marketing literature was not up to standards I would normally provide. However I would like to point out that we did have the correct license as issued by the Dubai Economic Department (attached) and also appropriate T’s & C’s which all clients signed and these included clauses that recommended to seek financial advice, that VER carbon was an iliquid market and most importantly it was a high risk. Without any appropriate investigation and by association of selling VER credits you had become judge and jury and subsequently labelled labelled my company a ‘boiler room’, By definition these operations who did in fact sell aggressively to unsuspecting clients, not issue any credits and then disappear overnight, ultimately stealing money fraudulently from clients…..by definition “a boiler room”. This is categorically not what we did at Eventus.

Around half of our clients credits are held by All Carbon Solutions, (CEO Mr Alexis Leroy) and you can see a screenshot listing our holdings. The other half of our credits are held by Evolution Trade Services. Now this is a problem because the CEO Mr Harvey Bennet, whom you have written about, has vanished. He recently tried to close his limited company and I have formed a petition at companies house in the UK which very recently was upheld (see attached email). On behalf of my clients from 3 years ago I am still working closely and have enlisted the services of a private detective who has found Mr Bennett and he is also compiling a list of his assets in his and his wifes name. We will decide the cause of action in due course, but as it stands it looks like a police matter and potential claim through the courts.

I hope that you accept that the article being posted for 3 years has served it purpose and run its course. You have a very powerful website and as a result I have suffered significantly from the wording of this article title. Im sure you are a reasonable guy and as such I reach out to ask you to remove the article after all this time so that I can move on. Feel free to call me should you wish to clarify any issues +971 50 785 3908.

If you have any information on Evolution Trade Services or Harvey Bennet please let me know.

This email is sent to you in the strictest of confidence and I do not agree for any of it to be published.

Regards

Phil

Wombwell’s email included two attachments and his correspondence with Companies House (click on the images for larger versions):

From: “Phil Wombwell” [philwombwell@hotmail.com]
Sent: 04 August 2016 | 09:07
Subject: EVOLUTION TRADE SERVICES 07964783

Dear sir / madam

striking off action suspended

I am from a Dubai based company called Eventus Alternatives Commercial Broker LLC (ceased trading June 2014). We were dealing with Mr Harvey Bennett of Evolution Trade Services Ltd, a UK company registered at companies house. Our trading with ETS took place in 2013 and 2014. Mr Harvey Bennett, the CEO is holding more than £1.5million of our clients Carbon Credit holdings on a registry of which he will not tell us which registry or how we can review the said credits. Since January 2016 he has switched off his mobile phone. Since march 2016 he as closed his website and therefore he is uncontactable. Only yesterday did we notice that there was some information that a striking off action at companies house had been suspended. Can you explain why this is and what I can do, if anything, to get involved in putting in additional petitions forward. We are now of the opinion we should also speak to the UK police or fraud office, can you recommend a department we should approach.

Whilst our company has ceased trading we are following the situation on behalf of our clients because we still service some of the clients from a new operation. Furthermore we wish to avoid litigation issues in the UAE which can be far more serious than the UK where financial matters are concerned.

Any help or advice on ETS ltd or Mr Harvey Bennett would be greatly appreciated.

Thank you

Phil Wombwell MBA BSc(hons)

From: “Phil Wombwell” [philwombwell@hotmail.com]
Sent: 08 August 2016 | 17:17
Subject: Re: Your Enquiry: CH4194591

Dear Ms Peachey

Please find attached email sent to Mr Harvey Bennet end Jan 2016 and also
follow up few days later. He never replied and he cancel his mobile number
and whatsap around that time also. He was completely uncontactable from
January 2016. We tried many ways to get hold oh him at his offices and even
through other companies he is connected to either on the internet or companies house.

The emails are in relation to information we need from him for a legal case in Dubai where 2 people have made police complaint against me suggesting I have brokered deals through a fake company (ETS / Harvey Bennett) and I needed him to prove to me legally his company and the products he sells are real. To this day we hear nothing and we are not sure where our clients
carbon credits are or if they even exist.

In the attachment email you will see the Dubai Public prosecution case number.

I have been to hell and back with this situation and I need to know if Mr Harvey Bennet is avoiding me because he may have been acting fraudulently.

I also attach a letter which was written by my lawyer to the complainant back in December 2015 to give you an idea of the original complaint and how Harvey Bennet has led my clients to become so angry and make cases against me because I am the broker in the UAE. Yet it is the clients who sent money at all times to Harvey Bennett / ETS and it is is he who has potentially defrauded my clients.

I can amass more information at your request but I am travelling at the moment. I am hoping this will be enough for you to get an idea that (A) we have been chasing him and (B) there is clear evidence of court cases

Regards

Phil Wombwell MBA BSc(hons)

And finally, here are two emails from Eventus Alternatives from 2012, sent anonymously to REDD-Monitor:

Subject: Eventus Alternative Required Information
Date: Mon, 2 Apr 2012 16:26:38 +0400
From: “Chris” chris@eventusalternatives.com
To: xxx

Dear xxx

Please find below the details you require.

_1. How do you operate in the UAE; where are you licensed, I need to c a copy of your trade license _

Eventus operates in the UAE under license issued by the Dubai Multi Commodities Centre (DMCC).

License number JLT-66200

Please see the license copy attached.

Eventus advises clients on the best possible in roads into the voluntary carbon market.

_2. Where are you incorporated; need to see copy of your memo. arts._

Dubai, United Arab Emirates.

See Memorandum front and back page attached.

_3. who is your custodian and where is it held._

We are contracted with a UK FSA regulated company which supplies our VER’s. All credits supplied are registered with CDC (France) or Markit (UK).

All credits supplied through Eventus are VCS approved (Verified Carbon Standard).

Once a client has agreed project type, credit standard and trade size, the financial transaction is sent directly to our UK FSA regulated supplier.

_4. Board of directors; names and nationalities (in order I search them) 5. since you are in the UAE, who is your local sponsor for example the local sponsor of AGT is HH Shaikh Tahnon ben zayed,_

Eventus Consultancy JLT (trading name Eventus Alternatives) is licensed in the DMCC freezone in Dubai, UAE. Any company in a Freezone does not require a local sponsor. Eventus Consultancy JLT is 100% owned by Mr Philip Wombwell MBA BSc(hons), British. Phil has been working in Financial Services the UAE for 10years, he is married and has 2 children. He did a Business degree at Manchester, UK and an MBA at University of Nottingham, UK. His passport is attached. certificates / Further details on request.

I will send across a full presentation of how your Investor family can benefit hugely from investments in Carbon. Like I mentioned briefly on the phone these credits are rising in price very quickly and with the demand in the market for them so strong you can see why analysts are predicting these credits to hit $20-$25 in the next 2 years.

Any other questions or queries in the meantime do not hesitate to contact me.

Kind Regards

_CHRIS BROOKMAN _

Senior Consultant
Eventus Alternatives
Office 205, The Palladium
Cluster C, Jumeirah Lakes Towers
PO BOX 487965, Dubai, U.A.E

Eventus Alternatives is a trading name for Eventus Consultancy JLT, who are licensed by Dubai Multi Commodities Centre (DMCC).

PLEASE CONSIDER THE ENVIRONMENT. DO YOU REALLY NEED TO PRINT THIS EMAIL?

From: Chris
Sent: 03/11/12 07:11 PM
To: xxxxx
Subject: Eventus Carbon Investments

Dear xxxxx

As discussed this afternoon, we have secured an allocation of VER (VCS) approved carbon credits for our retail clients, at an institutional rate of $9.10 per credit

We spoke about securing an allocation for yourself but would need to do this as soon as possible.

The allocation that we have credits available for are from a Hydro-electric project in India which produces over 1,000,000 tonnes of CO2 reductions each year, and is classed as amega project, This status ensures that the credits have a strong demand and are highly sought after, which enables a more competitive price to be achieved when it comes to exiting the position, compared to other types of credits.

§ https://vcsprojectdatabase1.apx.com/myModule/Interactive.asp?Tab=Projects&a=2&i=173&lat=30%2E7&lon=79%2E466667&bp=1

Once I have taken your order, the carbon credits are reserved and a sub-account is set up for you with the registry. Payment is made to Carbon Neutral Investments (CNI), and as soon as your payment clears a transaction notification/receipt is generated and the carbon credits are transferred to your sub-account. You will then receive log-in details and a password so you can log-in to your sub-account online (via the registry website) and view your holding (i.e. number of credits, price paid, type, serial number, vintage etc).

We act in an advisory capacity, so we will keep you up to date with industry news, your holdings’ performance, and offer continual advice on investment strategy. We do not charge an annual management fee, instead we charge our clients a performance related fee on the exit (1% of the profit). When you sell your position we will receive a notification from the registry of the transaction, and at which point we will send you an invoice detailing our fee.

In order to exit your position, you can sell through a broker (we facilitate with this process, if required), and transactions are conducted on the Over The Counter (OTC) market, where buyers and sellers are matched bilaterally through a network of carbon trading desks. We assist the majority of our clients with this process, using our industry expertise and network of traders and brokers to achieve the most competitive prices however we are getting people in at a very low price so we don’t look to sell immediately but hold for a minimum of 12-18 months so that the online trading platform will become worldwide and you will maximise your profit.

You are able to find out the daily price of VER carbon credits by contacting a broker who will be able to give you a current bid and offer price (we can also do this for you, if necessary). Once you are a client you will also receive a separate set of log-in details which will allow you to view the price directly from our website.

Once I have taken your order, I will send out all of the necessary documents and guide you through the payment process.

In the meantime, in order to continue your due diligence I have provided some useful resources for your perusal.

Firstly, please view the Verified Carbon Standard (VCS) website. As explained, credits that are VCS accredited are a global benchmark for carbon, and are independently verified by a third party, uniquely serial numbered, and transparently listed in a central database.

§ http://www.v-c-s.org/

Secondly, please view Carbon Neutral Investments (CNI) website. CNI are an FSA regulated company (403428), a member of the London Stock Exchange (LSE), and Caisse de Dépôt et Consignments (CDC) Carbon Registry. CNI are used for clearing and settlement services.

§ http://www.cn-investments.com/
Thirdly, please view Caisse de Dépôt et Consignments (CDC) website. CDC are AAA rated by all 3 rating agencies (S&P, Fitch, and Moody’s) and were voted the 2nd safest bank in the world in 2011. CDC are used for registry services, which is where our clients’ sub-accounts are held.

§ http://www.cdcclimat.com/?lang=en
Fourthly, I have included a useful article that explains why market participants are moving away from EUAs and CERs and increasing their exposure into VERs. It also goes on to explain, that one of the main reasons is that prices are more stable in VERs and tend to place a larger emphasis on the quality of the projects that the credits derive from.

§ http://www.carbonneutral.com/knowledge-centre/company-blog/vers-preferred-offset-instrument/

And lastly, please also find information on the anticipated increase in demand in the VER market after the Kyoto Protocol period ends in 2012, and UBS’s view that carbon prices will continue rising post 2012.

§ http://www.thecarbonexchange.co.uk/emissions-trading/market-opinion/

§ http://www.bloomberg.com/news/2010-09-22/ubs-says-eu-carbon-price-may-double-by-2014-triple-by-2017.html

Any questions or queries, please do not hesitate to contact me I will look forward to your reply and hopefully we can move forward with this.

Kind regards,

Chris Brookman
Senior Consultant
Eventus Alternatives
Office 205, The Palladium
Cluster C, Jumeirah Lakes Towers
PO BOX 487965, Dubai, U.A.E

Eventus Alternatives is a trading name for Eventus Consultancy JLT, who are licensed by Dubai Multi Commodities Centre (DMCC).

Please consider the environment. Do you really need to print this email?