EKI Energy, Shell Overseas Investments to launch JV to reduce carbon emission
The joint venture will work on the conservation, enhancement and restoration of natural ecosystems such as forests, agriculture, grasslands, wetlands and blue carbon
Carbon Credit Developer and Supplier, EKI Energy Services Limited, and Shell Overseas Investments BV, a unit of Royal Dutch Shell plc., on Friday agreed to set up a joint venture to work on nature-based solutions in India.
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, a company statement said.
“We are delighted to collaborate with Shell as we enthusiastically continue our stride towards contributing to India’s mission to achieve net zero. Ushering in a new era for climate change 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," Manish Dabkara, CMD and CEO, EKI Energy Services Limited said.
Shell has set a target to become a net-zero emissions energy business by 2050, in step with society, said Kazeem Khan, Shell General Manager, Asia Pacific, Nature Based Solutions. "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."
The joint venture will be registered as a subsidiary of EKI Energy Services Limited.
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