Indore-based company, Enking International has been in business for the past 12 years and now it has become the world’s first carbon trading company to come out with an Initial Public Offering. The company majorly operates in emerging areas of trading in carbon offsets and basically deals in market-tradeable instruments like renewable energy certificates, that are issued to entities for projects with low carbon dioxide emission.
What are carbon offsets?
Carbon offsets are basically a form of trade. When you buy an offset, you fund projects that reduce greenhouse gas (GHG) emissions. The projects might restore forests, help power plants or increase energy efficiency of buildings and transportation. Since GHG emissions are a global problem, carbon offsets operate on the idea that reduction in any area is worthwhile. Back in 2019, carbon offsets worth $214 billion were traded globally; 34% up from the previous year’s tally.
Enking’s half-yearly gross revenue crossed Rs 100 crores
Enking claims to be the world’s largest carbon credit developer and supplier and has big names in the power sector like NTPC, NHPC, Indian Railways, GAIL, IOC, ReNew Power, Azure Power, Greenko among its clients. The company is mainly involved in the trading of carbon offsets between Indian companies and buyers abroad. It also helps companies in building ‘carbon neutral strategy’.
Further, Enking International recently received Energy Service Company (ESCO) approval from the Bureau of Energy Efficiency (BEE). Also for the first time ever, Enking’s half-yearly gross revenue crossed Rs1 00 crores, which is being hailed as a major milestone.
