ProClime commits Rs 450 crore investment in TN to drive carbon projects

ProClime, a unified service provider in the climate space across Singapore, Sri Lanka, and India has committed Rs 450 crore investment in Tamil Nadu for taking up carbon projects, the company said on Friday.

The Chennai-headquartered firm signed a memorandum of understanding with the Tamil Nadu government during the recently held Global Investors Meet.

"Over the next five years, ProClime will invest Rs 450 crore as climate investments in the state and aims to create employment opportunities through carbon projects. ProClime is poised to be the first unified climate service provider investing in Tamil Nadu for carbon projects that generate carbon credits to mitigate climate change," the company said in a statement.

These credits would play a pivotal role in supporting the sustainable development goals across Tamil Nadu. Besides, it would also position itself as a front-runner in both Indian and Global Carbon markets.

"Our MoU with the Government of Tamil Nadu marks a pivotal step towards creating a sustainable and a low carbon future. We will be investing in Nature-based solutions, agro-forestry, carbon capture, energy efficiency...," company Chief Executive Officer Kavin Kumar Kandasamy said.

"These investments will help create high-integrity carbon projects across the state that address the demand for high-quality carbon credits to help mitigate climate change across India and the world," he added.

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