New Delhi, Apr 25 (PTI) EKI Energy Services Ltd (EKI) on Monday said it will generate 1 billion carbon credits by 2027.

Carbon credits are earned by reduction of greenhouse gas emission in the atmosphere through climate-friendly projects, and can be used by governments, industries or private individuals to compensate for generating emissions elsewhere, BSE-listed EKI Energy Services Ltd said in a statement.

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"The company announces its commitment to become net-zero by 2030 in addition to defining a target to mobilise up to 1 billion credits within the next 5 years (by 2027)," said the company.

The target to contribute 1 billion carbon credits by 2027 will play a significant role to meet the world's requirement of 58 billion credits per year to enable temperature capping, which is an urgent and critical measure to save the planet, the company said. Manish Dabkara, CMD and CEO, EKI Energy Services Ltd, said, "...We want to accelerate climate action to full throttle and step up our strategic efforts manifold. Our renewed commitments will enable us to take greater charge of steering the planet to net-zero even as we create history by becoming a service provider who leads by example to inspire million others in this quest."

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EKI Energy Services is a carbon credit developer and supplier across the globe.

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