EKI Energy Services Ltd and Shell Overseas Investments B.V. on Thursday floated a joint venture company for nature-based solutions in India to reduce greenhouse gas emissions.
“EKI Energy Services Ltd (EKI) and Shell Overseas Investments B.V. (The Netherlands), a unit of Shell plc, have joined hands to develop Nature-based Solutions (NBS) in India,” a company statement said. As a part of their joint venture, a company is incorporated with the name Amrut Nature Solutions Pvt Ltd having its registered office in Indore.
To ensure environmental sustainability, Amrut Nature Solutions Pvt Ltd will work towards conservation, restoration, and enhancement of natural ecosystems such as agriculture, forests, wetlands, grasslands, and blue carbon to reduce greenhouse gas emissions. The joint venture will provide consultancy/advisory services to develop NBS projects such as forests, sustainable agriculture, mangroves, amongst others to generate carbon credits for international voluntary or compliance carbon markets.
The projects will not only mitigate greenhouse gases but will also address the societal challenges effectively and simultaneously provide well-being and biodiversity benefits. Manish Dabkara, CMD & CEO, EKI Energy Services Ltd, said in the statement, “Through the joint venture, we seek to speed India’s net-zero transition and development of a climate resilient economy by enhancing the adoption and execution of nature-based solutions while reducing the overall concentration of greenhouse gas in the atmosphere.”
“Shell has been increasingly working with nature to help reduce the overall concentration of greenhouse gases in the atmosphere globally.
Through this joint venture – Amrut Nature Solutions and the credible partnership with EKIESL, we look forward to accelerating in the space of nature-based solutions in the country. This is yet another step forward in our target towards being a net-zero emissions energy business by 2050,” said Kazeem Khan, Shell General Manager of nature-based solutions in the statement. EKI Energy Services is a leading carbon credit developer and supplier in the world. Founded in 2008, the Bombay Stock Exchange listed company is more popularly known as EnKing International.