WASHINGTON--(BUSINESS WIRE)--C-Quest Capital LLC (“C-Quest” or the “Company”), a global carbon project developer with a mission of empowering rural communities to address climate change and drive sustainable development, today announced that it uncovered wrongdoing by its former Chief Executive Officer, Kenneth Newcombe, which resulted in the over-issuance of millions of carbon credits to the Company in connection with its clean cooking programs registered with the carbon credit registry Verra. C-Quest’s new leadership team voluntarily reported the wrongdoing to U.S. federal law enforcement, regulators, and Verra.
Under the new leadership team – overseen by Chief Executive Officer Jules Kortenhorst and committed to operating the Company with a focus on quality, integrity, and transparency – C-Quest is voluntarily facilitating the cancellation of any over-issued credits from its inventory in Verra; adopting new measurement, reporting, and verification (MRV) processes, crediting methodologies, and policies to ensure its future activities meet the highest ethical standards; and reorganizing its operations to help the Company fulfill its critical mission over the long term....
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