Muthoot Microfin helps offset 3.68 lac tonne carbon emission through its clean energy program

(MENAFN- Life and Style News) ..

New Delhi, 2nd September 2022: Muthoot Microfin Limited, the microfinance arm of Muthoot Pappachan Group, has been able to offset 3.68 lac tonne of carbon emission as of March 2022 by promoting solar energy and water purifying devices, according to MicroEnergy Credits data.

The company has also enabled 5,26,278 households with clean energy and empowered 25,26,134 individuals through its clean energy programs.

Muthoot Microfin has partnered with MicroEnergy Credits(MEC) for audit and social impact assessment of its clean energy program. MEC audits the performance and impact of the organisation’s clean energy program on the field and further supports the initiative with carbon funds.

Muthoot Microfin further invests the carbon funds for expanding and improving its clean energy program. Towards this, the organisation is setting up service channels in collaboration with solar lantern and water purifier manufacturers to improve after-sales services for customers in rural areas.

Muthoot Microfin Managing Director, Mr Thomas Muthoot said, “Our clean energy program is an illustration of the organisation’s dedication towards the ESG goals. This initiative has both environmental and social implications as it offers renewable lighting solutions and clean drinking water to the remote rural households.”

Muthoot Microfin CEO, Mr Sadaf Sayeed said, “We are committed to our ESG goals and achieving ‘zero’ net carbon by 2030. Our finance facility for water purifiers and solar lanterns offers an opportunity for customers to improve their quality of life and well-being. We have built strong partnerships to serve our customers in better ways and with better choices. We are delighted to see the impact we have made in the communities and are determined to scale it further into the rural villages of India”.

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