EKI Energy Signs MoU with Inclusive Energy to Further Digital Carbon MRV in the Voluntary Carbon Market
EKI Energy Services Ltd. (EKI) announced that it has signed an MOU with Inclusive Energy Ltd (IE). The purpose of MOU is to deepen and strengthen the strategic partnership to further digital carbon MRV for energy projects in the voluntary carbon market.
March 02, 2023. By News Bureau
Smart Biogas meters are specifically designed for small and medium-scale biogas plants and can enable Digital - Monitoring Reporting and Verification (D-MRV) to replace manual data collection which is often questioned for its integrity and costs. The biogas meters have been accepted by CDM and Gold Standard through 2 methodology deviations approved by CDM and Gold Standard.
Under the collaboration, EKI and IE will explore the opportunities for, and promote the use of, digital approaches to carbon MRV in the biogas market. EKI will also ensure feasibility analysis of carbon offsets certification with various international standards as per their existing rules & regulations, policy and market analysis.
They will evaluate the risks and benefits of different international carbon offset standards, and end-to-end management of the carbon offset certification cycle including trading of offsets. IE will be responsible for the installation and monitoring of performance parameters of Smart Biogas meters within shared projects.
Manish Dabkara, Chairman & MD, EKI Energy Services Ltd. said, “Digital MRV of reductions in GHG emissions has been gaining momentum recently. Digital innovations are being leveraged to drastically improve the efficiency, credibility and reliability of MRV activities and also play a key role in scaling carbon markets with integrity. Its benefits are significant, including increased efficiencies and accuracy of verification activities, improved data quality and comparability and near-real time issuances. Through our collaboration with Inclusive Energy, we aim to strengthen digital approaches to carbon MRV in the biogas market to ensure comprehensive data collection and spur growth in voluntary carbon market.”
Vijay Bhopal, CEO, Inclusive Energy Ltd. said, “We believe that D-MRV is not only an opportunity now, but likely a necessity in the future. The technology needed to create verifiable, accurate and cost-effective carbon credits exists. We hope to create a market for these higher quality, digitised offsets, leading to more trust and investment in the biogas market at large. This collaboration with a leading carbon credit developer such as EKI is significant, as the biogas market attempts to unlock voluntary carbon market models that work better for biogas businesses and customers.”
D-MRV approaches will allow for integrated digital systems encompassing monitoring, quantification, verification, and issuance processes, hence enabling continuous certification and issuance.
This will provide verifiers, standards, and researchers with a wealth of data that could be used to improve methodologies, verification, and certification, increase accuracy and credibility of emission reduction/removal quantification and help optimize crediting activities.
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