Bonjour, new guests from small-town India
Puneet Dhawan of Accor is brimming with ideas on ways to revive the hospitality sector
iStock.com/Chunumunu Chunumunu - Getty Images/iStockphoto
Indore-based Enking International may become the world’s first company that operates in the carbon markets space to go in for an initial public offering (IPO). Managing Director and CEO, Manish Dabkara, told Business Line today that it would file for the IPO in a few days.
The 12-year-old company operates in the emerging area of trading in carbon offsets. These are market-tradeable instruments (like Renewable Energy Certificates) that are issued to entities whose projects reduce xarbon dioxide emissions.
Enking buys these offsets from Indian companies and sells them to buyers abroad. Dabkara said the company’s topline for the half-year just crossed Rs 100 crore, achieving the milestone for the first time.
The company, which claims to be the world’s largest carbon credit developer and supplier, counts several big names in the Indian power sector among its customers: NTPC, NHPC, Indian Railways, GAIL, IOC, ReNew Power, Azure Power, Greenko and many others. Apart from trading in carbon offsets, Enking also helps companies build a ‘carbon neutral strategy’ and helps them get the offsets.
In 2019, carbon offsets worth $214 billion were traded globally, 34 per cent up from the previous year.
Trading in carbon offsets is expected to pick up once the rules for carbon markets are framed under Article 6 of the Paris Agreement. Carbon trading began under the Kyoto Protocol of 1997 (which came into force in 2005). Under this, ‘certified emission reductions’ or CERs, were issued to entities that put up projects that reduced emissions — such as wind, solar, or energy efficiency. These CERs were to be bought by developed countries. It didn’t work out well and Indian entities are left holding about 750 million worthless CERs.
However, today some countries and many companies buy offsets under what are called ‘compliance’ and ‘voluntary’ markets, respectively. But the real growth in the market is expected to happen only after the carbon market rules are framed under the Paris Agreement.
Puneet Dhawan of Accor is brimming with ideas on ways to revive the hospitality sector
Citroen’s first vehicle sports a novel design and European interiors. It is also meant to be as comfortable as ...
The pandemic is only the tip of the iceberg that the country’s cash-poor airlines — both regional and national ...
The government is yet to specify the framework of its recently announced old vehicle scrappage policy
Here is a checklist that equips you to discern the market nuances
Sensex, Nifty 50 have witnessed sharp decline
The fund has consistently outperformed S&P BSE 100 TRI over one, three and five years
Returns are superior to immediate annuity plans, but SCSS can secure better rates for new investors sooner if ...
With the public looking beyond mainstream media for reports from the ground, independent digital platforms are ...
The country hasn’t had a quiet moment since the military seized power on February 1
The Tatmadaw sees itself as an embodiment of the nationalist soul of Myanmar. But their brand of nationalism ...
While Supreme Court has cleared the way for women seeking longer tenures and senior roles in the Indian Army, ...
Its name is the starting point of a brand’s journey and can make a big difference in the success sweepstakes
Sober spirits are the in thing
A peek into where ad spends went last year and where they are headed tomorrow
Can Swiggy Instamart disrupt the ecommerce groceries space, currently ruled by the Amazons and Big Baskets? ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...
Please Email the Editor