EKI Power Companies Ltd., a trailblazer in sustainable power and carbon credit, has introduced a groundbreaking collaboration with FARI Options, a frontrunner in blockchain R&D working throughout North America, Europe, and Eurasia, together with Azerbaijan. This Memorandum of Understanding (MoU) marks a big milestone in EKI’s mission to steer carbon credit score initiatives and enhance sustainable growth within the area.
EKI Takes Cost of Carbon Credit score Lifecycle
Underneath this settlement, EKI will act because the strategic associate of FARI Options, managing all elements of carbon credit score processes. It’s going to embrace conceptualizing, documenting, verifying, issuing, and buying and selling. This strategic alliance goals to boost the competitiveness of each firms whereas fostering enterprise progress in Azerbaijan.
The press launch states that,
“The MoU delineates the areas, institutional arrangements, and general conditions governing the cooperation between EKI Energy Services Ltd. and FARI Solutions. It serves as a comprehensive framework that embodies the mutual commitment towards achieving shared objectives in sustainable energy and environmental stewardship.”
Another vital attributes of this partnership are outlined beneath:
1. Exclusivity and Innovation in Azerbaijan
The MoU grants FARI Options unique rights to actions inside Azerbaijan, reinforcing EKI’s dedication to impactful strategic collaborations.
Shafiq Amiri, Chief Working Officer of FARI Options, highlighted the modern potential:
“Our partnership with EKI’s renowned energy solutions expertise promises groundbreaking advancements in tokenizing the carbon credit landscape. Together, we will lead the charge towards a greener future for Azerbaijan and global carbon markets.”
2. Positioned for International Impression at COP29
This MoU coincides with the upcoming COP29 local weather convention in Baku, Azerbaijan, positioning EKI and FARI Options to showcase modern carbon credit score administration options. As Azerbaijan takes the worldwide stage for local weather discussions, this collaboration is a mannequin for different nations transitioning to greener futures.
This partnership can encourage vital progress globally by boosting carbon credit score initiatives and sustainable practices in Azerbaijan. Thereby contributing to the objectives of COP29.
3. Management Statements: Driving Sustainable Change
Manish Dabkara, Chairman and Managing Director of EKI Power Companies Ltd., expressed his enthusiasm,
“We are thrilled to embark on this journey with FARI Solutions, leveraging our combined expertise to advance sustainable energy initiatives in Azerbaijan. This partnership highlights our dedication to driving meaningful environmental change globally.”
Siddhant Gupta, Vice President of Enterprise Growth at EKI Power Companies Ltd., echoed this sentiment:
“Partnering with FARI Solutions is a strategic move that aligns with our mission to pioneer sustainable solutions worldwide. Together, we are set to catalyze transformative change in Azerbaijan’s carbon credit sector, setting a new standard for sustainability in the region.”
SUPPLEMENT Power’s International Impression: Pioneering Carbon Offsets and Blockchain Improvements
Based in 2008, EKI Power Companies Ltd. is a worldwide chief in carbon credit score growth and provide. As the primary firm to listing a Plastic Mission from India with Verra, EKI is dedicated to reaching net-zero carbon emissions by 2030.
Listed within the Bombay Inventory Alternate (BSE), it provides a variety of sustainable options for local weather change and carbon offsets, adhering to world requirements.
With operations in over 16 international locations and a buyer base spanning greater than 40 international locations, EKI has provided over 200 million offsets.
Another outstanding achievements embrace:
- They efficiently listed the primary Plastic Mission from India with Verra, sustaining compliance with worldwide requirements reminiscent of CDM, VCS, and Gold Customary.
- The corporate carried out complete sustainability audits for over 3,500 purchasers, aiding companies in mitigating their carbon footprints.
- It has shaped strategic partnerships to advance blockchain-based carbon credit score options and launched initiatives to attain carbon neutrality and local weather positivity.
supply: EKI
FARI Options: Main the Path In direction of Web-Zero Emissions
FARI Solutionsa various workforce of execs spanning North America, Europe, and Asia, makes a speciality of blockchain investments and drives innovation throughout industries. The corporate goals to:
- Develop and implement modern applied sciences for carbon monitoring and buying and selling.
- Improve transparency and effectivity in carbon credit score markets.
- Deliver digital transformation initiatives in finance, provide chain, healthcare, and authorities sectors.
- Create scalable options that contribute considerably to world carbon discount targets.
- Associate with business leaders and interact in cutting-edge analysis.
Their dedication to web zero objectives propels their efforts to steer in environmental stewardship. It units new requirements for digital transformation within the carbon credit score sector.
EKI Power Hails U.S. Help for VCMs, Praises India’s Daring Actions
In response to their newest press report, the corporate has applauded the Biden-Harris Administration’s new rules for high-integrity voluntary carbon markets. This announcement, supported by a Joint Assertion of Coverage, marks a big step in direction of credible and impressive local weather motion.
The endorsed rules spotlight the U.S. authorities’s dedication to accountable participation in VCMs. These rules set clear incentives and safeguards to make sure carbon markets drive substantial local weather motion and financial progress.
Notably, EKI Power has additionally praised the Indian authorities’s proactive measures to fight local weather change. In June 2022, it enacted the Power Conservation (Modification) Act, empowering regulators to develop insurance policies for a nationwide emission buying and selling system. In 2023, India launched the Carbon Credit Trading Scheme (CCTS)masking compliance and voluntary sectors. It included the offset market, permitting non-obligated entities to take part and create new alternatives for decarbonization tasks. Whereas the specifics for Voluntary Carbon Market (VCM) credit are nonetheless being outlined, India’s progress is commendable.
