EKI Energy Services Ltd., a known name in carbon offset solutions, has got recognition as the leading renewable energy developer in Abatable’s voluntary carbon market developer overview report for the year 2023. The recognition amplifies EKI’s commitment to sustainable solutions and marks its consecutive success, having been ranked number one globally in 2022 and 2023.
Having clients such as the World Bank Group, IMF, UNOPS, Siemens, Statkraft, Shell, Volkswagen, Adani Group, EKI captures more than twenty percent of the global voluntary carbon credit market issued credits share, encompassing renewable energy credits.
The report by Abatable (based at London, UK), which tracks 2023 issuances, highlights EKI Energy Services Ltd’s prominent position over several other esteemed carbon project developers. EKI Energy’s dedication to driving sustainable energy solutions and its work in the voluntary carbon market has earned the company this prestigious recognition.
The report includes an indication of the percentage of carbon credits issued using methodologies submitted for Core Carbon Principle approval by The Integrity Council for the Voluntary Carbon Market (ICVCM). It underscores EKI’s commitment to meeting the highest standards of carbon market integrity.
The report also sheds light on the significant transition-nuances facing the voluntary carbon market, with uncertainties surrounding the shift towards the Paris Agreement’s Article 6 market from the Kyoto Protocol’s Clean Development Mechanism (CDM). Despite challenges, the market continues to see investments and growth, with EKI at the forefront of driving positive change.
“We are honoured to be recognized as a leading renewable energy projects developer in Abatable’s Voluntary Carbon Market Developer Overview Report,” said Manish Dabkara, Chairman and Managing Director, EKI Energy Services Ltd. Dabkara added, “The acknowledgment is a testament to our unwavering commitment towards contributing to a greener future for generations to come”.
Renewable energy credits play a crucial role in the VCM for projects at developing economies, enabling organizations to offset their carbon footprint while supporting transition to green energy and energy independence.
In an extension to its commitment in the world of sustainability, with a strategic focus on expanding its tech portfolio, EKI aims to diversify its offerings to include innovative solutions such as integrated and improved cooking systems, water filters, and biochar – CCUS. These additions align with EKI’s vision to address climate challenges comprehensively and provide impactful solutions to businesses and organizations globally.
“We are proud of EKI’s achievements in advancing renewable energy solutions on a financial level,” said Naveen Sharma, Director-Global Carbon Sales and Origination at EKI. Sharma added, “The recognition underscores our dedication to sustainability and innovation”.
The future of the VCM holds immense potential, with market size projections indicating substantial growth. EKI remains committed to leading this transition, driving positive change, and facilitating sustainable development on a global scale.
The VCM’s worth reached $2 billion in 2021, a four-fold rise from 2020, in a pattern of explosive growth. The VCM is expected to grow to a market value of between $10 billion and $40 billion by 2030. With EKI at the forefront of this anticipated expansion which reflects the market’s reaction to the rising demand for carbon units, has been driven by a rise in corporate net-zero commitments and the acceptance of voluntary carbon units by compliance markets like CORSIA.
As per the press release, Abatable is a market intelligence and procurement platform for the voluntary carbon market. Its technology-enabled solutions connect companies and climate investors to the largest network of climate projects across the globe. Through this and their market intelligence suite they aim to help organisations build a thriving future for climate, nature and people.
