EKI Energy Services: Strategic MoU with Jospong Group – USD1 Billion Carbon Credit Ambition

The Indian benchmark indices experienced a significant downturn today, plunging around 1%, primarily due to substantial losses in the IT, financial services, and banking sectors. However, amidst an overall weak market, a resilient investor sentiment was observed in the small-cap segment, as evidenced by the BSE Small-cap index gaining by around 0.50%.

While energy stocks demonstrated resilience, EKI Energy Services Ltd, a small-cap company specializing in carbon advisory services, climate change, and sustainability consulting, remained in the spotlight with its latest announcement.

MoU that attracted investors’ interest 

Today, the company announced the signing of a Memorandum of Understanding (MoU) with Jospong Group of Companies Ltd, an esteemed conglomerate operating in both African and Asian countries. This strategic collaboration underscores the dedication of both entities to lead initiatives in advancing sustainability, net-zero services, climate investments, and carbon neutrality.

The collaborative effort seeks to secure a substantial USD1 billion in carbon credit financing, with the ambitious objective of creating more than 1,000 employment opportunities in Ghana and West Africa by 2030. The accomplishment of this objective will also contribute to the company’s success in realizing its ultimate goal of progressing towards a net-zero future.

Shares experienced heightened buying interest driven by increased investor awareness about net-zero and carbon neutrality, resulting in a surge of around 4% to reach an intraday high of Rs 425 per share on the BSE.

About the company 

EKI Energy Services Ltd is a leading carbon credit developer & supplier across the globe. It is the first ever company to list a plastic project from India with Verra – a global accreditation standard located in Washington, USA. EKI offers sustainable solutions for climate change and carbon offsets with global standards. With an aim to contribute to the development of a climate resilient global economy, the company offers strategic solutions to businesses and organizations globally to achieve their climate ambition.

EKI offerings span across carbon credit/asset management, carbon credit generation, carbon credit supply, carbon credit offsetting, carbon footprint management, sustainability audits, as well as carbon neutrality and climate positive initiatives. The company is today present in more than 16 countries and has 3,500 customers across 40 countries.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.