KOCHI: The Kochi Water Metro on Wednesday signed an agreement with Kosher Climate, a Bengaluru-based agency with expertise in carbon markets and climate solutions, to become India’s first water metro system to generate carbon credits from its operations.
“The project will be implemented under a revenue-sharing model, ensuring that Kochi Water Metro incurs no financial liability. All costs related to carbon credit certification, technical studies, documentation, and international approvals will be borne by the agency,” the Water Metro said in a statement.
“Under the agreement, 71% of the revenue generated through the trading of carbon credits will accrue to Kochi Water Metro, creating a new non-fare revenue stream while reinforcing its commitment to environmental sustainability,” it said.
The agency was selected through an open tender process.
“The initiative will scientifically measure and verify the reduction in carbon emissions achieved through Water Metro services. The project will also assess the environmental impact of the entire system, from infrastructure to operations, to secure certification under internationally recognised carbon credit standards. Once certified, the carbon credits can be traded in global carbon markets, generating long-term financial returns,” the statement added.