EKI lists India's plastic project under global accreditation

New Delhi: Carbon credit developer and supplier EKI Energy Services (EKI) on Tuesday said it has listed a plastic project from India under a global accreditation standard, becoming the first company to do so.

With this, the Indore-based carbon credit expert that has been working in the realm of climate action and offset solutions since the last 14 years across 16 countries, has become the first ever firm to list a plastic project from the country with an aim to generate India's first-ever international plastic credits, a statement said.

The project ensures that plastic waste -- predominantly Polyethylene Terephthalate (PET) waste, PET flakes and chips -- is duly sourced and recycled to produce Recycled Polyester Staple Fibre (RPSF) that can be further used in the textile industry for garments and other fabric-based utility products.

Manish Dabkara, CMD & CEO, EKI, said in the statement, "...it will inspire many more projects in the country to scale their recycling activities in a structured manner for plastic credits finance that can facilitate and promote greater climate action. Such a value chain will also empower all stakeholders of the collection and recycling process - starting from the ragpickers to recycling facilities." The project has been listed under the Plastic Waste Reduction Standard of Verra -- a Washington-based accreditation.