Irish group to buy carbon credits

EcoSecurities Group Plc, an Irish trader of emission credits, proposed buying a fifth, or 25 million, of Indonesia’s expected supply of carbon credits through 2012.

EcoSecurities will purchase so-called certified emission reduction credits from projects that curb greenhouse gas, Agus Sari, director of the company’s Indonesian unit, said in Jakarta yesterday.

Buying such credits helps rich nations meet their targets under the Kyoto Protocol by funding cuts in poor countries.