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EKI Energy Signs MoU with Jospong Group Of Companies to Mobilise Carbon Finance

This strategic collaboration solidifies the commitment of both entities to pioneer efforts in advancing sustainability, net-zero services, climate investments, and carbon neutrality.

January 29, 2024. By News Bureau

EKI Energy Services Ltd announced the signing of a Memorandum of Understanding (MoU) with African holdings company, Jospong Group Of Companies Ltd, a distinguished conglomerate with operations in African and Asian countries.

The partnership among the two organisations was initiated on the sidelines of the 28^th edition of the Conference of Parties (COP 28) in Dubai and then ratified in Accra.

This strategic collaboration solidifies the commitment of both entities to pioneer efforts in advancing sustainability, net-zero services, climate investments, and carbon neutrality. The MoU also outlines joint initiatives in offsets portfolio management services and capacity building for carbon markets.

Manish Dabkara, Chairman and Managing Director at EKI Energy Services Ltd, expressed enthusiasm about the collaboration, stating, "We are thrilled to embark on this transformative journey alongside Jospong Group Of Companies Ltd. Our shared commitment to sustainability and environmental responsibility is a powerful catalyst for pioneering initiatives that will redefine industry standards. Together, we aspire to create groundbreaking solutions, driving positive change for our planet. This collaboration underscores our collective dedication to fostering innovation, promoting eco-conscious practices, and contributing to a sustainable future for generations to come.”

Dr. Joseph Joseph Siaw Agyepong, Executive Chairman of the Jospong Group of Companies verbalised his deepest appreciation for the collaboration and pledged his companies’ commitment to the sustainable waste management, environmental conservation, and international cooperation and the tenets of the Memorandum of Understanding to ensure climate neutrality and greener future.

Chief Investment Officer of the Jospong Group, Noah Gyimah and Said Haidar Executive Director of the Processing Cluster of the Group witnessed the signing of the MOU.

EKI believes that this partnership forged at the world’s largest climate conference would amplify the mutual efforts of both the companies for environmental action while uplifting the community, especially in Africa.

The collaboration aims to mobilize an impressive USD 1 billion in carbon credit financing with the ambitious goal of generating over 1,000 employment opportunities by 2030 in Ghana and West Africa.

During the recently concluded COP28 in Dubai, the Swiss government signed a landmark agreement with the Jospong Group, authorising Internationally Transferred Mitigation Outcome (ITMO) credits for four waste treatment plants owned by the Group's subsidiary. This initiative, set to generate 1.5 million tonnes of CO2 equivalent credits valued at USD 20 million by 2030, signifies a commitment to global sustainability goals. ITMO, operating within carbon emissions trading, facilitates international carbon credit acquisition or trade, aligning with the Paris Agreement's Article 6.2.

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Energy efficiency

EKI Energy Services Limited

Jospong Group Of Companies

Conference of Parties

Carbon credits

Sustainability

Memorandum of Understanding