EKI Energy Services Ltd (EKIESL), one of the world’s leading developers and providers of carbon credits (environmental product), has announced the incorporation of a new associate, GHG Mitigation Technologies Pvt Ltd, according to a company statement.
According to the statement, the new company will oversee the end-to-end management of the carbon offset supply chain in a phased manner.
GHG Mitigation Technologies will manage the upstream integration of the carbon credit supply chain through the EKIESL Community Development Project – the Green Cooking initiative which replaces inefficient traditional mud stoves with improved stoves in local homes. rural households around the world.
In a first phase, it will manage the manufacture and distribution of improved stoves. In the following phases, the associate will oversee and manage the generation and delivery of carbon credits to companies around the world in close consultation with EKIESL.
This will allow EKIESL to reach new heights as a leader in carbon markets, which offers a diverse and comprehensive bouquet of end-to-end solutions for climate action and carbon offsetting.
“As a brand, we are constantly innovating to develop sustainable solutions to reduce carbon emissions on the planet. The new company is a strategic step in this direction which will allow us to holistically manage the upstream integration of carbon credits.
“We plan to generate credit through the cookers first and then deliver it to businesses around the world to achieve their climate ambitions. Through strategic management of the carbon credit supply chain, we will now be able to further strengthen our leadership position in global carbon markets. “said Manish Dabkara, CMD and CEO of EKI Energy Services.
The new group company will be jointly owned by EKIESL with a 49.5% stake and will remain owned by private investors / companies. It will be registered with Indore (MP ROC) and will have its manufacturing unit in Nashik, Maharashtra.
Launched in 2018, EKIESL’s Green Cooking Initiative is a sustainable community development program that provides efficient cookers free of charge to economically weaker families in remote places around the world.
Efficient stoves are not only safer for the environment given their reduction in greenhouse gas emissions, but they also offer numerous social and economic benefits that align with the multiple Sustainable Development Goals (SDGs) of United Nations.
EKIESL has distributed over 80,000 stoves to date and plans to expand the initiative to 2.5 million stoves over the next six months, which can help offset millions of metric tonnes of carbon footprint.
Since its creation in 2008, EKIESL has worked to build a sustainable planet and offers a complete package of end-to-end solutions for climate actions, enabling companies to achieve their climate objectives.
The company recently partnered with Shell Overseas Investments BV (a unit of Royal Dutch Shell plc) to launch a joint venture aimed at reducing carbon emissions in India through nature-based solutions.