Essent to purchase Russian ERUs

Geneva-based Essent Trading has signed a deal to purchase emissions reductions units (ERUs) from a Russian Joint Implementation (JI) project.

Essent will purchase the credits from project developer Core Carbon Group, in a deal intermediated by ING Bank's emissions desk in Amsterdam and the New York division of the bank's financial markets group. The project will be methane-based and the emissions rights will be bought later this year when work on the project begins.

"Russia is the core country for