Ecosecurities

This article is part of the Climate project of Spinwatch.

Ecosecurities is a carbon trading and offsetting provider, which utilises the market based mechanisms of the Kyoto Protocol, particularly the Clean Development Mechanism. It has offices in more than 20 countries on five continents and achieved a 69 million Euro turnover in 2008.

The company was floated on the Alternative Investment Market of the London Stock Exchange in December 2005 and expanded considerably in June 2007 with large investment from Credit Suisse.

In November 2009 Ecosecurities was bought on behalf on JP Morgan by it's subsidiary Carbon Acquisition Company but continued to operate under its own name. The sale was allegedly 'based on its large pre-2012 portfolio of carbon offsets (estimated in August 2009 at around 100 million tonnes), its post-2012 portfolio (around 125 million) and any upside associated with a surge in carbon prices.'

History

Ecosecurities was created in 1997 in lieu of the real formation of carbon markets, when they were involved with some of the first offsetting projects.

According to their website they have been a pioneering carbon trading company since their inception, with some key events including:

• Development of the first carbon offset certification system in the world in January 1997, licensed by EcoSecurities to Societe Generale de Surveillance (“SGS”), the largest commodity certification company worldwide;
• Participation in the development of the Costa-Rican national GHG mitigation program in 1997, the first government programme in the world;
• Development of some of the first approved CDM project methodologies since 2001;
• Development of the first CDM project registered under the Kyoto protocol, NovaGerar Landfill Project in Brazil in 2004;
• Structuring of the CDM component of the first project to receive CERs in the world, La Esperanza hydro project in Honduras in 2005.
• New Energy Finance named EcoSecurities as ‘Top Carbon Off-taker by Number of Deals’ in their 2007 and 2008 Carbon Markets League Tables.
• In 2007 the Group was ranked number 22 in CNBC European Business Magazine's 'Top 100 Low Carbon Pioneers'.
• Early 2008 saw EcoSecurities successfully register its 100th Clean Development Mechanism (CDM) project.
• In recognition of EcoSecurities' groundbreaking contribution to GHG mitigation and carbon trading sector, the group in 2009 alone, was voted ‘Best CDM/JI Project Developer – Kyoto Project Credits’ and ‘Best Project Developer – North American Mandatory Markets’ by readers of Environmental Finance and Carbon Finance magazines.

People

• Paul Kelly CEO since 2009. Previously JP Morgan
• James Thompson Chief Financial Officer -previously Greenergy International (biofuels)
• Adrian Fernando Chief Operating Officer - previously Star Energy and Amerada Hess.
• PJ Browne Group Company Secretary

Previous people

• Pedro Moura-Costa Managing director
• Bruce Usher CEO

Contact

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