BusinessWire India

Bangalore (Karnataka) [India], October 10: Hedonova expands its Carbon-Credit Ecosystem, focusing on projects in emerging Asian markets to pioneer carbon negativity and eco-conscious developments. Hedonova, a renowned Paris-based hedge fund specializing in alternative assets and a global leader in carbon credit trading, is marking a significant stride in its sustainable investment initiative. With over $4 billion transacted in carbon credits in 2022, Hedonova is leading the way in carbon removal projects, making it one of the world's top 20 largest carbon credit traders. Hedonova is progressing its sustainable venture by expanding to emerging Asian markets, investing $24 million for a 71% stake in Nepal-based Mandakini Farms. This acquisition underlines Hedonova's commitment to diversifying its eclectic portfolio while emphasizing eco-conscious investments and carbon neutrality. Mandakini Farms operates integrated farms in Nepal, South Korea, and Malaysia, integrating poultry, fisheries, and breeding kennels with short-term rentals for tourists and digital nomads. Mandakini is directing raised capital towards establishing carbon removal plants across all its locations, projecting to earn nature-based and removal-based carbon credits and aspires to achieve carbon negativity by 2025.

Also Read | 9 Days, 9 Colours of Navratri 2023! From Alia Bhatt to Kiara Advani, Check Celebrity-Inspired Outfits in Nine Vibrant Colours for Navaratri Festivities.

Hedonova's Chief Investment Officer, Suman Bannerjee, expresses immense enthusiasm about this innovative venture, emphasizing the integrated, cash flow-generating investments, "We have received FDI approval from Nepal's central bank and are excited about making impactful, integrated investments that generate significant cash flow." Mandakini's founder, Sunita Regmi, regards Hedonova's investment as a monumental testament to Nepal's business ecosystem, demonstrating its resilience amid escalating macroeconomic challenges, "The engagement from an international hedge fund reflects the resilience and potential of Nepal's business ecosystem in navigating through the macroeconomic hurdles."

Sushil Raj, Hedonova's carbon credit portfolio manager who is leading the investment, highlighted the transformative impact of setting up carbon removal plants in Kathmandu, one of the most polluted cities globally. "Establishing carbon removal plants in Kathmandu will significantly contribute to reducing the prevalent pollution levels, aligning with our mission to promote environmental sustainability," he remarked.

Also Read | Durga Puja History and Culture: Ahead of Durgotsav 2023, Know Everything From the Legend of Maa Durga Vanquishing Mahishasura to Dhunuchi Dance on the Dhak’s Rhythmic Beats.

(ADVERTORIAL DISCLAIMER: The above press release has been provided by BusinessWire India. ANI will not be responsible in any way for the content of the same)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)