NEW DELHI: Carbon credit developer and supplier EKI Energy Services and Shell Overseas Investments B.V. have joined hands for a joint venture for carbon emission reduction through nature-based solutions in India.
According to a statement, the joint venture will work on the conservation, enhancement and restoration of natural ecosystems such as forests, agriculture, grasslands, wetlands and blue carbon to prevent emissions or lower concentrations of greenhouse gases in the atmosphere while creating lasting benefits for people and nature.
Manish Dabkara, CMD and CEO, EKI Energy Services Ltd said, "Ushering in a new era for climate change mitigation in the country, the new company will not only further EKI's current on-ground execution on nature-based solutions to a large scale but will also provide a much-needed impetus for climate actions in India."
The joint venture will be registered with ROC-MP (Registrar of companies - MP) as a subsidiary of EKI Energy Services Ltd.
"Shell has set a target to become a net-zero emissions energy business by 2050, in step with society. To achieve this, Shell is first and foremost focused on avoiding and reducing emissions and, in addition, we are working with nature to help reduce the overall concentration of greenhouse gas in the atmosphere. Through this joint venture and the collaboration with Enking, we look forward to helping unlock nature's climate change mitigation potential and bringing lasting environmental and social co-benefits," said Kazeem Khan, Shell General Manager, Asia Pacific, Nature Based Solutions in the statement.