INDORE, India, March 21, 2020 /PRNewswire/ -- EnKing International is one of the 15 winners in the auction who paid $0.30 for the right to sell a carbon credit to the PAF at a good price. The World Bank Group auctioned $8.25 million of climate funds on March 3rd, 2020, and this could lead to a reduction of the equivalent of 4.2 million tons of carbon dioxide emissions by the end of 2020.
Twenty-one companies took part in a pilot online auction for the right to sell carbon credits. The eligible projects are the ones that will cut the methane emissions from waste disposal which includes landfill, wastewater, and agricultural waste. Methane is a high potent greenhouse gas with a global warming potential of at least twenty-five times that of carbon dioxide. This auction has attracted bidders in nine developed and developing countries, ranging from large multinationals to small, local businesses.
The winners in this auction will receive contracts as 'Pilot Auction Facility Emission Reduction Notes', issued as The World Bank bonds. To be eligible, the emissions must be monitored and verified by a third party. Credits verified under the Clean Development Mechanism, Gold Standard, and Verified Carbon Standard are eligible in the auction.
This has been a wonderful achievement for EnKing International to supply methane credits developed by the firm from projects all across the world.
About EKI Energy Services Limited:
EKI Energy Services Limited, is India's first public limited company, an ISO 9001:2015 certified organization, working in the field of energy, carbon and quality management with brand name of EnKing International.
EKIESL is one of the leading firms in India having more than 400 national and international clientele, associates all over the world, and headquartered at Indore (MP - India). With a vision of "Making Planet Earth a Green Global Society", EKIESL is delivering services into the categories of R&D, training, consulting and auditing services. For more information, visit http://www.enkingint.org
Pavan Kumar Kundi
Manager, EKI Energy Services Limited
SOURCE EKI Energy Services Limited