EKI welcomes India's step forward to greener planet as Centre releases tech list under Article 6.2 of Paris Agreement

India has finalised a list of activities that is taken into account for selling carbon credits on the global market, in compliance with Article 6.2 of the Paris Agreement, in a step that is sure to please investors in the carbon credit market. EKI Energy Services Limited (EKI) welcomes this important milestone in the step forward to a greener planet.

The list, made public by the Union Environment Ministry on last Friday, includes Greenhouse Gas (GHG) mitigation activities, alternate materials, and removal activities. The complete list is as follows:

1. Renewable energy with storage (only stored component)
2. Solar thermal power
3. Off-shore wind
4. Green Hydrogen
5. Compressed bio-gas
6. Emerging mobility solutions like fuel cells
7. High-end technology for energy efficiency
8. Sustainable Aviation Fuel
9. Best available technologies for process improvement in hard-to-abate sectors
10. Tidal energy, Ocean Thermal Energy, Ocean Salt Gradient Energy, Ocean Wave Energy and Ocean Current Energy
11. High Voltage Direct Current Transmission in conjunction with the renewable energy projects
12. Green Ammonia
13. Carbon Capture Utilisation and Storage.

The list effectively serves as a wishlist of areas where India aims to attract investments, with the investing nation or company receiving a share of the carbon credits obtained from deploying these technologies to offset carbon emissions.

"These activities will facilitate adoption / transfer of emerging technologies and may be used to mobilise international finance in India," said the Government of India.

This notification along with earlier amendment Energy Conservation Act 2022, and subsequent commitment to formalize National Emission Trading System (National ETS) of India, have unlocked new market potentials for the business sector participation towards carbon neutral development. The industry investor in low carbon technologies will now have five different markets segment to choose from for monetizing their carbon credits. These include -

Option 01: Domestic Compliance Carbon Markets (National ETS with National Registry Compliance)

Option 02: Domestic Voluntary Carbon Markets (Voluntary Corporate Actions with National Registry Compliance)

Option 03: Article 6.2 of the Paris Agreement Carbon Markets (Sovereign Trade through Bilateral and Cooperative mode under UNFCCC)

Option 04: Article 6.4 of the Paris Agreement Carbon Markets (International Compliance & Voluntary Carbon Market under UNFCCC)

Option 05: International Voluntary Carbon Markets (Voluntary Corporate Actions through Independent Credible Registry Systems)

Manish Dabkara, Chairman & MD, EKI Energy Services Ltd. said "India has essentially signal a long-term policy outlook, welcoming investments in specific technologies / activities, as notified. It will encourage investors and businesses to make informed-investments in promotion of these low-carbon technologies in the fastest growing market in the world, leveraging the assured carbon revenue."

This initiative would soon generate a significant volume and speed in both domestic Indian ETS and foreign trade (FDI) under Article 6.2 for Carbon Credits / Offsets. EKI Energy, one of the World largest Carbon Credit developer, welcomes the notification and which will definitely strengthen the future carbon market and help bring stakeholders confidence in this key area for the bright future of the planet.

Shares of EKI Energy Services Ltd was last trading in BSE at Rs. 625.65 as compared to the previous close of Rs. 568.80. The total number of shares traded during the day was 585456 in over 13679 trades.

The stock hit an intraday high of Rs. 625.65 and intraday low of 511.95. The net turnover during the day was Rs. 341623326.00.

Source : Equity Bulls

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EKIEnergyServices INE0CPR01018 CarbonCredits Selling ParisAgreement