Satin Creditcare Network Ltd reaffirms its sustainability commitment by reducing carbon emissions of 207 tons in 18 months

Satin Creditcare Network Limited (SCNL) (NSE: SATIN, BSE: 539404), one of the leading microfinance institutions in the country reaffirms its commitment as an environment conscious and responsible organization towards the reduction of carbon emission. SCNL has been successful in reducing emissions of 207 tons of CO2 into the environment, empowering 93,181 households and 447,269 individuals with clean energy till December 2020. Satin Carbon Program was eventually incorporated as a part of the UNFCCC Clean Development Program (CDM). The company aims at expanding and improving its clean energy program with thoughtful climate mitigation and planet conservation initiatives. In past, MicroEnergy Credits (MEC) had certified SCNL for its efforts in April 2020.

The company's clean energy lending solutions include solar products like a torch, home system, and lights.

Mr. HP Singh, Chairman and Managing Director, SCNL, says, "We at SCNL place a strong emphasis on constructing and nurturing a sustainable business with the ethos of compliance, governance, transparency and ethics. It is essential for organizations to develop solutions that protect the environment, support sustainable development and spur growth in the economy. With global warming creeping in, it is imperative to address the issues of climate change. Viable, scalable, and high-quality carbon sequestration projects in line with the Paris Climate Agreement to counter the climate crisis is the need of the hour. The goals outlined serve as a reference for companies like us, that aim to bring about a change with their actions that can deliver results in the medium to long term.

Incorporated in 2007, Seattle-based MicroEnergy Credits, Corp. provides carbon finance options for microfinance institutions, international organizations, and non-for-profit organizations. It links microfinance institutions to the carbon markets when they lend for clean energy. The company also provides implementation services to help MFIs scale-up their clean energy product lines. MicroEnergy Credits (MEC) is active across India, Kenya, Uganda, and Mongolia.

Ms. Jayashree Rao, CMO, MEC, says, "We value our association with SCNL, who are doing impressive work in the space of renewable energy through its microfinancing program. It is essential for organizations across the globe to come together to make the world a better place."

Shares of Satin Creditcare Network Ltd was last trading in BSE at Rs.91.05 as compared to the previous close of Rs. 92.2. The total number of shares traded during the day was 6843 in over 172 trades.

The stock hit an intraday high of Rs. 95 and intraday low of 90.6. The net turnover during the day was Rs. 633049.

Source : Equity Bulls

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