EKI Energy Services Limited has announced its enrolment in the Partnership for Carbon Accounting Financials (PCAF) accreditation program, marking a significant step in advancing sustainable finance in India. As only the second entity in the country to join this global initiative, EKI aims to assist financial institutions in adopting the PCAF Standard, which will help them measure and report the greenhouse gas (GHG) emissions linked to their loans and investments. This aligns financial practices with the global climate goals set out by the Paris Agreement.
The PCAF accreditation is a major milestone for EKI, a global leader in carbon consulting and climate action solutions. The company intends to use its deep expertise in carbon footprint assessment, carbon credit trading, and sustainability strategies to guide financial institutions in integrating science-based targets into their operations. This partnership will allow financial institutions to not only report their emissions but also make strides toward a low-carbon economy.
Sustainable finance in India has been growing rapidly, driven by government initiatives like the Reserve Bank of India’s Framework for Green Finance and the country’s commitment to achieving net-zero emissions by 2070. EKI’s partnership with PCAF supports this evolving landscape by offering tools that can help financial institutions measure and manage their portfolio emissions effectively. This step is crucial as India seeks to align its financial systems with the global climate targets set by international bodies.
Mr. Manish Dabkara, Chairman and Managing Director of EKI Energy Services Ltd., expressed his enthusiasm about the collaboration. He emphasized that the company is committed to helping organizations meet global climate objectives and implement meaningful climate actions. He stated, “Joining the PCAF accreditation journey is a significant milestone in our mission to support financial institutions in measuring, reporting, and managing their portfolio emissions. Together, we aim to drive the region’s transition to a sustainable, low-carbon future.”
Bart van Lunteren, Accredited Partner Lead at PCAF, also welcomed EKI’s involvement in the accreditation program. He acknowledged the growing sustainable finance sector in India and South Asia, and how EKI’s expertise will contribute to the region’s green economy transformation. “We are delighted to welcome EKI as they embark on this PCAF accreditation journey. This collaboration reflects our shared commitment to equipping financial institutions with the necessary tools and resources for accurate GHG accounting,” he added.
The PCAF program includes rigorous training through the PCAF Academy, which will equip consultancies like EKI with the knowledge and expertise needed to assist financial institutions in adopting the Global GHG Accounting and Reporting Standard for the financial industry. By participating in this program, EKI aims to strengthen India’s role in sustainable finance and climate action, supporting the country’s transition to a greener economy. This partnership signals a significant step forward for both EKI and the Indian financial sector as they work together to meet global climate goals and drive the shift toward sustainable finance in the region.
