EKI Welcomes Government's Approval of Offset Mechanism under the Indian Carbon Market

EKI Energy Services Ltd. (EKI) on Monday (March 31) applauded the Government of India's approval of the Detailed Procedure for the Offset Mechanism and eight distinct methodologies under the Carbon Credit Trading Scheme, 2024. This milestone marks a colossal leap in India's carbon market evolution, reinforcing the country's commitment to incentivizing voluntary climate action across sectors.

The newly approved Offset Mechanism enables businesses, industries, and organisations, including those outside the compliance framework, to actively participate in emission reduction projects. By offering carbon credits for verified greenhouse gas (GHG) reductions, the initiative will unlock climate finance opportunities and catalyse decarbonisation efforts at an unprecedented scale.

The eight approved methodologies span critical areas such as renewable energy (including Hydro and Pumped Storage), green hydrogen production, industrial energy efficiency, landfill methane recovery, and mangrove afforestation & reforestation. These methodologies will provide a robust framework for project developers, ensuring transparency, credibility, and scalability in voluntary carbon markets.

Commenting on this development, Mr. Manish Dabkara, Chairman and Managing Director, EKI Energy Services, said, "The approval of the Offset Mechanism marks a turning point for India's carbon market. By expanding the scope of climate mitigation efforts beyond compliance-driven sectors, this initiative will mobilise greater private-sector participation, accelerate emissions reductions, and create a thriving carbon ecosystem. EKI remains committed to supporting businesses in leveraging this opportunity to contribute to India's net-zero journey."

As a leading carbon market developer, EKI is poised to facilitate project development under the approved methodologies, offering its expertise in carbon asset management, credit generation, and trading solutions. With the formalisation of this framework, India is set to strengthen its position in global carbon markets while fostering sustainable development.

Shares of EKI Energy Services Ltd was last trading in BSE at Rs. 96.07 as compared to the previous close of Rs. 94.19. The total number of shares traded during the day was 39905 in over 310 trades.

The stock hit an intraday high of Rs. 96.07 and intraday low of 94.19. The net turnover during the day was Rs. 3803044.00.

Source : Equity Bulls

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