JP Morgan Boosts Carbon Trading Resume With EcoSecurities Buyout

September 14, 2009

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Seeking to cement its status in the carbon-trading realm, JP Morgan has agreed to buy EcoSecurities for $204 million.

In the bidding, JP Morgan beat out EcoSecurities co-founder and former president Pedro Moura Costa, who had bid 90-pence per share, compared to JP Morgan’s offer of 100 pence, reports Reuters.

Ireland-based EcoSecurities Group works on clean energy projects under the Kyoto Protocol’s Clean Development Mechanism.

The deal has not reached final approval of JP Morgan shareholders, but appears certain to pass, Reuters reports.

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