I am sad to report that the Netherlands-based carbon offset company that appointed Brexiteer Nigel Farage to its advisory board earlier this year, has yet to see a return on its investment.
DutchGreen Business Group NV announced its interim results for the six month period to June 30, reporting no revenue and incurring a loss of €360,000 as it “focused on establishing the systems, processes and platform to enable it to effectively launch its repurposed offering to the market in the second half of the year”. Presumably Mr Farage was still paid handsomely for his ‘expertise’.
DutchGreen said it holds approximately 157,000 tonnes of carbon offsets, and has a pipeline of nine projects in 10 countries with over 250,000 hectares of sourced land under review. The firm forecasts expanding its carbon offsets project pipeline with the generation of over six tonnes of offsets during 2021.
It has also announced that it closed a €6 million private placement, acquired a strategic 50% stake in Green Fuel Investments BV to drive the expansion of its ‘groundbreaking’ reforestation and carbon offsetting retail platform, whilst acquiring a 75% controlling stake in specialist blockchain and software development tech company, Statix Artificial Intelligence BV. This will apparently enable DutchGreen to deliver smart reforestation and ecosystem restoration projects.
DutchGreen maintains it has a positive outlook, in part due to “continued strong demand for offsets, which saw the carbon price on the European Emissions Trading Scheme (EU:ETS) hit an all-time high”. Given Mr Farage’s continual dismissal of the threat of climate change, and his regular votes in the European Parliament against the EU:ETS, he is really such an obvious person to benefit from such positivity.