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GORD collaborates with CESL to foster carbon neutral growth

Jul 13,2021

GORD collaborates with CESL to foster carbon neutral growth

The Gulf Organisation for Research & Development (GORD) and Convergence Energy Services Limited (CESL) have announced a cooperation agreement to foster carbon neutral growth by promoting GHG reduction projects and carbon offsetting.

Qatar’s Gulf Organisation for Research & Development (GORD) has entered into a memorandum of understanding (MoU) with India’s Convergence Energy Services Limited (CESL) whereby the two entities will work towards a range of initiatives aimed at accelerating climate solutions. The MoU was signed by GORD’s Founding Chairman, Dr. Yousef Alhorr, and CEO of CESL, Ms. Mahua Acharya.

Areas of collaboration covered in the MoU primarily deal with GORD’s activities for promoting MENA region’s first and only voluntary carbon market program Global Carbon Council (GCC). Under this agreement, GORD will provide capacity building for CESL team in its plans to register all CESL GHG reduction projects with GCC to seek carbon credits issued to its projects. GCC is dedicated to drive climate actions to develop low-carbon economies. Carbon credits issued by GCC are fully approved under United Nations’ ICAO initiative “CORSIA” to be used for carbon neutral growth in international aviation industry as well as for carbon neutrality of other sectors.

Several corporates and airlines are eying upon GCC projects to procure carbon credits from, to achieve their carbon neutrality goals. There are several corporates opening the account at GCC’s global carbon registry to be able to sell, buy or trade carbon credits issued by GCC.

As a part of the MoU, GORD will develop CESL’s capacity on GCC’s rules of procedure for registration of projects and carbon credit issuance. In the long run, CESL will likely benefit from GORD’s knowledge base about the buyers of GCC-issued carbon credits.

Speaking on the sidelines of the event, Dr. Yousef Alhorr said, “At GORD, we understand the genuine need to support GHG reduction projects to meet our net zero commitments.

By formalizing our collaboration with CESL, our overarching goal is to catalyze climate actions and sustainable development while also availing socio-economic benefits of carbon mitigation projects. CESL projects have high intrinsic value to communities and economy as a whole, apart from their natural role in climate mitigation.”

Ms. Mahua Acharya said, “CESL is an organization of Government of India, committed to promote climate action and sustainable development by helping communities. We very much value the high-quality voluntary carbon market offered by Global Carbon Council and plan to register all our projects with GCC with an aim to raise extremely critical climate finance to ensure the viability of our projects. In this journey, GORD’s cooperation on capacity building is very important for us.”

CESL, a subsidiary of Energy Efficiency Services Limited (EESL), is focused on energy solutions in areas of renewables, electric mobility and climate change. The organization is working towards delivering renewable energy solutions to power agricultural pumps, street lighting, domestic lighting and cooking appliances in villages across India. Using GCC’s platform, CESL plans to register its GHG reduction projects for carbon credits issuance.

GCC’s documentation framework facilitates businesses to submit their GHG emission reduction projects for carbon credits issuance. Approval of shortlisted projects is based on an independent, transparent and objective process of evaluation. GCC issues the emission reduction units (termed as “Approved Carbon Credits” or “ACCs”) that the project achieves in a given monitoring period of the project, after rigorous monitoring and independent verification. Based on applications from various GHG projects so far, GCC expects to issue more than 10 million carbon credits in 2021 alone.

The recent MoU between GORD and CESL comes as a continuation of a former agreement between GORD and EESL, CESL’s parent company, in June 2020, whereby the two entities are collaborating to provide to Qatari stakeholders the solutions and technologies in energy efficiency, renewable energy, sustainable transport solutions, carbon offsetting and carbon neutrality.

GORD collaborates with CESL to foster carbon neutral growth


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