EKI Energy Services Ltd. (EKI), a carbon credits developer and supplier, announced this week that it would invest up to INR 200 crore as part of an INR 1,000 crore ($125 million) climate impact fund that it has launched in partnership with Impact Capital Asset Management Pte. Ltd. (ICAM), a Singapore-based Fund Management company.
The $125 million fund is purportedly India’s first ever climate impact fund. This initiative seeks to mobilize resources to promote and finance GHG mitigation projects globally. Geographically, the projects will be deployed across remote locations in India and select countries in Africa, Asia and LATAM.
The fund would be managed by ICAM, while EKI will be the anchor investor and exclusive project implementation partner.
“EKI will invest up to INR 200 crore in a phased manner in this fund with an aim to empower GHG mitigation projects across the country and internationally,” stated EKI Energy.
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.
“The projects would generate high-quality carbon credits for EKI 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,” stated EKI.
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.
The company is today present in 16+ countries and has 3,000+ clients across 40+ countries worldwide. As on date, EKI has supplied over 180+ million offsets.
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