EKI Energy Services Ltd. (EKI) launches India’s first ever INR 1000 crores (125 million USD) Climate Impact Fund to develop GHG Mitigation projects in partnership with Impact Capital Asset Management Pte. Ltd. (ICAM), Singapore
EKI will invest up to INR 200 crores (25 million USD) as an anchor investor in the Fund with a deep focus on community development across remote locations in India and select countries in Africa, Asia and LATAM
- EKI has partnered with –Impact Capital Asset Management Pte. Ltd. (ICAM), a Monetary Authority of Singapore licensed Fund Management Company, to launch the first-of-its-kind INR 1000 crores Climate Impact Fund
- In line with EKI’s aim to a net-zero future, the Fund will have a very strong focus on the development of projects that enable significant GHG Mitigation along with the upliftment of rural communities with significant focus on SDG parameters
- The Fund would be managed by ICAM while EKI will be the anchor investor and exclusive project implementation partner
- This initiative seeks to mobilize resources internationally to promote & finance GHG Mitigation projects globally
October 18.2022, India: EKI Energy Services Ltd. (EKI), a leading developer and supplier of carbon credits across the globe, today announced that it will invest up to INR 200 crores as part of an INR 1000 crores (125 million USD) climate impact fund that it has launched in partnership with Impact Capital Asset Management Pte. Ltd. (ICAM), a Singapore-based Fund Management company.
The INR 1000 crores (125 million USD) fund is India’s first ever climate impact fund. EKI will invest up to INR 200 crores in a phased manner in this fund with an aim to empower GHG Mitigation projects across the country and internationally. The Fund will specifically focus on high impact community development projects such as clean cooking through large scale deployment of energy efficient improved cook stoves (ICS), access to clean drinking water through water filtration systems and energy-saving lighting solutions like LED Bulbs and waste management amongst others, to meet its objectives of improving lives while also greening the planet.
This initiative will enhance EKI’s global reach and strengthen its network of global clientele. The projects would generate high quality carbon credits for its investors by delivering significant emission reductions, which, the investors can use to offset their own carbon emissions subject to the local law or earn monetary benefits by selling the carbon credits in different carbon markets like CORSIA, domestic emission trading scheme, Article 6.2 / Article 6.4 of Paris Agreement, international voluntary markets subjected to relevant host country approvals. Geographically, the projects will be deployed across remote locations in India and select countries in Africa, Asia and LATAM.
Mr. Manish Dabkara, Chairman & MD, EKI Energy Services Ltd. said, “The world is fast striding towards a net-zero future. We, as climate warriors want to empower this journey with focused investments in climate projects globally. We also want to strengthen our focus on community development. We are delighted to take a significant and concrete step forward toward ensuring increased climate mitigation in India and other parts of the world. We promise to continue developing projects that address larger community issues while also enabling nature restoration”.
Mr. Deepak Mawandia, Founder & CEO – ICAM, said “Focussed on the Planet, its People and Profit (for investors and stakeholders), at ICAM, we are delighted to be partnering with EKI Energy Services Ltd., the leading player globally in the Climate Change/Carbon Offset development space. We look forward to collectively doing our bit to address the challenges of Climate Change by leveraging on our experience to accelerate investments into high impact GHG mitigation and community upliftment projects and initiatives while delivering superior and sustainable risk adjusted returns for our investors”.
EKI offers climate change and sustainability solutions to businesses to help them achieve their carbon neutrality goals. The company provides consultancy/advisory services for the end-to-end management of carbon assets including carbon credit generation, supply, monetization, and offsetting.
Community upliftment has been a core focus area for EKI. In line with this, the company launched its Green Cooking initiative in 2018 to replace the inefficient traditional mud/three stone fire cook stoves with improved cookstoves that are safer and fuel efficient in India. EKI empowers rural homes globally through this initiative. The company has also established a subsidiary – GHG Reductions Technologies Pvt. Ltd. for the end-to-end management of the initiative starting from manufacturing to the distribution of the improved cookstoves. The company recently announced that its manufacturing plant, located in Nashik, now, has a capacity to manufacture 5 million improved cookstoves per year, the highest ever in the biomass category.
In addition to improved cookstoves, the company also has a strong focus on GHG mitigation projects that contribute towards community development and upliftment. These projects include LED projects, water filters and Nature-based Solutions (NBS).
With a presence in 16+ countries, EKI is also the first ever company to list a Plastic Project from India with Verra – a global accreditation standard located in Washington, USA. EKI will soon become the first ever to generate International Plastic Credits for collecting and recycling plastic waste in the country through the project. For more details, log on to www.enkingint.org or write to us at business@enkingint.org
About EKI Energy Services Limited
EKI Energy Services Ltd. is a leading Carbon Credit Developer & Supplier across the globe. It is the first ever company to lists a Plastic Project from India with Verra – a global accreditation standard located in Washington, USA. Founded in 2008, the Bombay Stock Exchange (BSE) listed company has been passionately working towards rehabilitating the planet to a future of net-zero carbon emissions. EKI offers sustainable solutions for climate change and carbon offsets with global standards like CDM, VCS, Gold Standard, GCC, IREC, TIGR and others. With an aim to contribute to the development of a climate resilient global economy, the company offers strategic solutions to businesses and organizations globally to achieve their climate ambition. EKI offerings span across Carbon Credit/Asset Management, Carbon Credit Generation, Carbon Credit Supply, Carbon Credit Offsetting, Carbon Footprint Management, Sustainability Audits, as well as Carbon Neutrality and Climate Positive initiatives. The company is today present in 16+ countries and has 3000+ clients across 40+ countries worldwide. As on date, EKI has supplied over 180+ million offsets
