A pioneer of carbon energy in the 1990s has bought back a leading firm, which he created in 1997, after selling it for $220 million in 2009. Brazilian Pedro Moura Costa and partner Pablo Martinez are set to buy back the EcoSecurities, a low-carbon projects’ developer, from Swiss trader Mercuria Energy Group for an undisclosed sum. EcoSecurities was started by Moura Costa in 1997, some months before the approval of the Kyoto Protocol by the United Nations Convention on Climate Change (UNFCCC). The protocol triggered the development of carbon markets since countries could use carbon credits to help them to

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