by Francis Tuschek, Staff Writer
Fuhua Company has been developing carbon credits in Indonesia, has been accused of fraud related to carbon credit development. Fuhua Intelligent Co. claims that all development activities are transparent and have publicly available information, the projects are said to be monitored and verified by trusted third-party organizations. They have engaged lawyers to gather evidence and will take legal action accordingly.
On September 11, anonymously posted allegations on the public consultation platform of the international carbon credit certification organization Verra, claimed that Fuhua Electronics and its subsidiary Fuhua Intelligent were involved in carbon credit fraud and stock price manipulation. Recently, Fuhua Electronics issued a clarification stating that the post was a free submission and not an official opinion from Verra, but it has caused confusion due to its misleading portrayal.
Fuhua Electronics emphatically clarified that all development activities by Fuhua Intelligent are transparent and public. The Indonesian forest carbon credit development project, project number 4381, has complied with local government laws and policies since its initiation and operates in accordance with international carbon market standards.
Fuhua Electronics emphasized that the company collaborates with independent third-party organizations internationally, ensuring transparency throughout the project process. From auditing to verification stages of carbon credits, there is strict supervision and assessment to ensure that every unit of carbon credit has reliable environmental benefits. Fuhua Electronics aims to promote ecological protection, improve local community environments, and contribute substantially to global climate change through forest conservation and afforestation.
Fuhua Electronics also stated that the regulatory framework for Voluntary Carbon Credits (VCC) in Indonesia is still evolving, and specific regulations for VCC have not been fully formalized. Although the compliance framework for carbon credits is complete, the voluntary credits are still being aligned with national standards.
The company noted that Indonesia’s national regulations are still being adjusted and will be aligned with regulatory developments.
Fuhua Electronics mentioned that the amendment to the Indonesian Forest Law No. 23 does not negate the development activities of Fuhua Intelligent, and the project is conducted in full compliance with relevant regulations, in collaboration with local forestry management units and community cooperatives. Even under Indonesia’s compliance reduction framework, Fuhua Electronics’ participation in carbon credit development is legal.
Fuhua Electronics stressed that any allegations of the company being involved in carbon market fraud are unfounded. Every carbon credit project the company promotes, including project number 4381, is aimed at achieving long-term commitments to sustainable development and environmental protection. The execution of the projects is under multiple supervision and verification, adhering to Verra standards and globally recognized carbon credit certification norms.
Fuhua Electronics firmly stated that the unfounded accusations made by the individual on Verra’s official website are baseless and have severely impacted the company’s reputation. They indirectly implicate Verra in collusion and harm the reputation of third-party verification organizations. The company will not tolerate this and has engaged lawyers to gather evidence regarding the false accusations, intending to file a lawsuit based on Taiwan’s securities trading laws.
Regarding recent fluctuations in the company’s stock price, Fuhua Electronics clarified that it has never intervened in stock market operations in any way. All price fluctuations are the results of market operations, and investor risks stem from market volatility, not from improper management of company operations or projects.
Fuhua Electronics committed to continuously enhancing transparency and maintaining close communication with shareholders and investors to ensure their interests are not misled by false information. The company will persist in its commitment to sustainable development and actively participate in international carbon neutrality efforts, believing that by developing high-quality carbon credit projects, it can contribute to global climate change and environmental protection while promoting Taiwan’s significant position in the global carbon credit market.