KOCHI (Metro Rail News): In a pioneering move, Kochi Water Metro signed an agreement with Kosher Climate to launch India’s first water metro carbon credit initiative.
This landmark step makes Kochi the first water transit system in the country to generate non-fare green revenue by monetising the reduction in carbon emissions from its electric boat operations on international markets.
Zero-Cost Green Revenue
The project operates on a revenue-sharing model under which Kochi Water Metro Limited (KWML) incurs no financial liability.
The weekly brief metro & rail professionals read.
“The project will be implemented under a revenue-sharing model, ensuring that Kochi Water Metro incurs no financial liability. All costs related to carbon credit certification, technical studies, documentation, and international approvals will be borne by the agency,” stated the Water Metro authority, according to the Indian Express report.
All costs related to carbon credit certification, technical studies, documentation, and international approvals will be fully borne by Kosher Climate.
Under the agreement, KWML will receive 71% of the revenue earned from trading these verified carbon credits in global markets, creating a new stream of non-fare green revenue.
Operational Scope & Implementation
The initiative will scientifically measure and verify the exact reduction in greenhouse gas emissions achieved through Water Metro.
Kosher Climate will assess the entire system to meet international carbon credit standards. Once certified, these carbon credits will be traded on global carbon markets.
This innovative non-fare revenue model will provide a sustainable financial cushion for future expansions. If successful, Kochi Water Metro is expected to become a national model for decarbonising ferry and inland water transport systems across India.
Also Read: Cabinet Approves ₹1,264 Crore Multi-Tracking Railway Project in Karnataka & Andhra Pradesh
Guide