JPMorgan Chase & Co. (NYSE: JPM) made a move into carbon trading, bidding 122.9 million pounds (US$203 million) for EcoSecurities Group Plc, (ECO.L) according to a Bloomberg report.
JPMorgan Chase reportedly outbid EcoSecurities co-founder and former president Pedro Moura Costa.
As it looks more likely that the United States will institute a cap-and-trade system for carbon emissions, carbon trading specialists are in high demand. This is the fourth time this year a company has considered a takeover bid for Dublin-based EcoSecurities.
Read the full report at the link below.
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