According to the World Health Organisation, 2.4 billion people still use solid fuels to cook, which results in significant carbon emissions and negative health effects1.
EKI Energy Services' (EKI) Improved Cookstoves (ICS), produced by EKI subsidiary GHG Reduction Technologies, have been developed in response to this problem. The initiative also generates carbon credits through the offsetting of carbon emissions.
EKI says its 'Agneeka Ecomini' ICS have greater combustion efficiency and insulation than traditional cookstoves, which lowers fuel requirements, improves indoor air quality and lowers household air pollution. The Indian carbon credit developer says smoke and hazardous emissions are reduced by 50 to 70% compared with traditional cookstoves.
EKI reports it has already distributed over two million of its cookstoves to communities in many low-income parts of the world, largely Asia and Africa, resulting in 6-8 million tonnes of CO2 equivalent emission reductions per year.
One Environmental Finance Sustainable Company Awards judge called it, "a fantastic initiative that delivers enormous benefits by reducing costs (including time costs), improving health, and reducing environmental impact".
The initiator of the clean cooking project under GHG Reduction Technologies, Manish Dabkara, has also won Net zero champion of the year in the global category in this year's awards.
Dabkara, the chairman and managing director of EKI Energy Services, says the subsidiary firm started its operations in early 2022 to "strengthen the integration of the carbon credit supply chain".
Under his leadership, EKI also launched India's first Climate Impact Fund to develop greenhouse gas (GHG) mitigation projects.
EKI says the $125 million fund, launched in partnership with Impact Capital Asset Management (ICAM) in Singapore, focuses on high-impact community development projects such as access to clean drinking water through water filtration systems, LED energy-saving lighting solutions, and waste management.
EKI also became the first company to list a Plastic Project from India, with Verra in 2022.
The company says: "Dabkara's strategic leadership has propelled EKI's international expansion, with the establishment of subsidiaries in Singapore, Dubai, Turkey, and Egypt and the launch of a new arm for sustainability services. EKI has served more than 3,500 clients in 40 countries, and mobilised over 200 million carbon credits, to date".
EKI launched its sustainability arm in 2022, under the leadership of its vice president for business development Samrat Sengupta, who has won Sustainable business leader of the year for APAC.
Under his oversight, EKI's sustainability arm has assisted several businesses with their net-zero journeys.
For example, his team has obtained Airport Carbon Accreditation (ACA) for 23 airports. ACA is a global carbon management certification programme for the aviation sector. It assesses and recognises the efforts of airports to manage and reduce their carbon emissions.
The team has supported the Small Industries Development Bank of India (SIDBI) in their carbon neutrality goals, estimation of GHG footprints, reduction road map, green building certification, and estimating their lending portfolio emissions. Similar initiatives have been implemented at Indian investment firm ICICI Securities, Indian financial services firm Shriram Finance, and Indian Energy Exchange (IEX).
Sengupta's team also provided support to a Saudi Arabia-based telecom company in developing a decarbonisation roadmap.
