Kochi Metro Rail Limited (KMRL), a joint venture company of the governments of India and Kerala, has hired EKI Energy Services Ltd. (EKI), a leading developer and supplier of carbon credits globally, to provide consulting services through a bidding process.
The goal is to improve the metro project’s environmental performance through certification for reducing GHG emissions while providing additional benefits in the form of carbon credits. EKI will help KMRL to profit from the carbon credits produced by its sizeable environmental effect.
According to the agreement, EKI will oversee the creation and assistance with projects for the Kochi Metro Rail Project’s Validation, Registration, Verification, Issuance, and Trading of carbon credits.
EKI will guarantee the total management of projects qualified for carbon credits as part of the contract, including verification that the projects adhere to the standards set by International Carbon Credit Mechanisms. Kochi Metro Rail Ltd. will be able to monetize pollution reductions and generate extra income with the aid of EKI, which it may use to fund its numerous developmental efforts.
Mr. Manish Dabkara, Chairman & MD, EKI Energy Services Ltd., said, “We are excited about our partnership with Kochi Metro Rail Ltd. and would like to thank KMRL for selecting us as their preferred partner. This win will enhance our leadership in Government sector projects as an expert in climate change solutions nationally and globally. All of us at EKI are committed to continuing offering our strategic solutions for mitigation and emission reduction while helping clients enable a strong climate action and earn additional revenue.”
Mr. Loknath Behera, Managing Director, Kochi Metro Rail Limited, said,’ I am happy that at least we have formally started our carbon crediting activities in association with EKI. It will help us earn additional revenue and give the optics to KMRL as a responsible, sustainable transport provider.”
The partnership will help EKI by expanding its global customer base. To help KMRL generate more money, EKI will create high-quality carbon credits from the modal shift transportation project and monetize them on the global carbon market.