CarbonSoft and Eureka Forbes launch groundbreaking new solar power, carbon revenue project in southern India

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Carbon credit aggregator CarbonSoft has partnered with Eureka Forbes Ltd to launch a powerful new carbon credit program in support of solar lamps and lighting in southern India.

A pioneering new initiative has paired one of India’s most respected names in business with one of the world’s leading carbon credit organisations in an effort to reduce pollution, create a healthier environment and improve the economy in southern India.

CarbonSoft Corporation, the carbon credit aggregator, has signed an agreement with Eureka Forbes Ltd (EFL), the Mumbai-based supplier of sustainable household goods, to provide carbon credit revenue to support the distribution of EFL’s new line of innovative Eurodiya solar lamps, made by US-based Nokero, throughout southern India.

"We are proud to be working with one of India’s household names in Eureka Forbes. This partnership is a great example of how the CarbonSoft platform enables large organisations to connect carbon credits with communities,” said Sebastian Foot, CarbonSoft’s Founder and Managing Director.

The program is at the leading edge of a worldwide movement to reduce the burning of kerosene for lighting and is part of the objectives outlined by UN Secretary General Ban Ki-Moon as he launched the International Year of Sustainable Energy For All in 2012.

More than 1.3 billion people worldwide live without electricity and often burn kerosene fuel for lighting. These lamps are dangerous, expensive and release approximately 190 million tonnes of carbon dioxide into the air each year – the equivalent of 30 million cars - according to Nokero.

With this new program, Eureka Forbes aims to sell 158,000 of their economical, durable and environmentally-friendly lights to households in Karnataka, Andhra Pradesh, Tamil Nadu and Kerala, southern India. The contract will run for seven years, to 2018.

CarbonSoft has calculated that this project will prevent more than 80,000 tonnes of carbon dioxide emissions being released into the atmosphere, generating the same number of carbon credits. This will subsidise the cost of the lights for end-users, making them more affordable to the poorest households.

“The initiative would reduce poverty and provide off-grid light and would definitely boost the economic development and lifestyle in the rural communities,” said Mr. A.V. Suresh, CEO Forbes Pro, Eureka Forbes, “Eureka Forbes stands to its commitment of building happy and healthy community across India.”

About CarbonSoft:
CarbonSoft provides small-scale clean development projects in developing countries with access to funding, by aggregating emissions savings from similar projects, to generate UN-accredited carbon credits, helping to alleviate energy poverty at the bottom of the Pyramid.

  •     CarbonSoft was launched in 2011, by Managing Director Sebastian Foot, as a Joint Venture between Frontier Carbon Ltd and Standard Bank plc
  •     Existing solar lamp projects are located in Tanzania, Malawi, India and Indonesia
  •     The company is based at The Hub, London, Kings Cross

About Eureka Forbes
Eureka Forbes Ltd is one of the most well-known names in India. Born as a joint venture between the Forbes Group and Electrolux of Sweden, today the company is a $250-million, multi-product, multi-channel organisation, part of the Shapoorji Pallonji Group and with a global footprint. The company ranks among India's Most Admired Consumer Durable Companies and amongst the Best Employers in Asia and India. A case study at the prestigious Harvard Business School ranked EFL as one of the Most Admired Knowledge Enterprises in Asia and India.

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