Indian company EKI Energy Services has signed a memorandum of understanding (MOU) with UK-based Inclusive Energy to enhance digital carbon monitoring, reporting and verification (MRV) for energy projects in the voluntary carbon market.
Inclusive Energy (IE) manufactures and supplies smart meters for biogas and DC solar systems, and associated software platforms.
Smart biogas meters are specifically designed for small- and medium-scale biogas plants and can enable digital MRV (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 two 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 its existing rules & regulations, policy and market analysis. It 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 & managing director of EKI Energy Services, 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."