FCS-IndiGo Partnership

FCS-IndiGo Partnership

In February 2014 the Fair Climate Network entered into a partnership with IndiGo, India's largest domestic airline, to reduce Greenhouse Gas Emissions (GHG). Under this Agreement, IndiGo encourages its passengers to reduce their carbon footprint. Passenger Contributions are used to fund a series of Carbon reducing initiatives in villages across the country. The next time you book your ticket, you too can contribute ₹ 100 and help make a difference.

FCN-IndiGo ERPA's

Under an Emission Reduction Purchase Agreement (ERPA), IndiGo purchased 97,896 yet-to-be-generated CERs from CROSS for a total of ₹ 11.17 crore (average price ₹ 1,141 per CER) on behalf of its Passengers. These CERs will not be traded in the International Carbon Market; they will be retired in the UNFCCC Retirement Registry. Thereby IndiGo will facilitate Passengers make a real and absolute contribution to GHG reduction, while at the same time promoting sustainable development for rural households.

In January 2015, IndiGo purchased yet another 66,523 CERs under a similar ERPA with Accion Fraterna for a total of ₹ 8.5 crore (average price ₹ 1,277 per CER).

In June 2016, IndiGo purchased yet another 69,661 CERs under a similar ERPA with SUVIDHA for a total of ₹ 7.5 crore (average price ₹ 1,078 per CER).

Biogas CDM Projects

Grassroots NGOCROSS
Chittoor
Andhra Pradesh
Accion Fraterna
Anantapur
Andhra Pradesh
SUVIDHA
Haldwani
Uttarakhand
 
ERPA dateApr 2014Jan 2015Jun 2016
ERPA Target (Biogas units)5,0002,5002,0009,500
Forward purchase of yet-to-be-generated CERs97,89666,52369,671234,090100%
Cost-of-generation₹ 11.17 cr₹ 8.5 cr₹ 7.50 cr₹ 27.17 cr
Average Price per CER₹ 1,141₹ 1,277₹ 1,078₹ 1,161

Progress as on

1 Jul 2021

12 Jul 2021

13 Jul 2021

No. of Villages covered277173133583
No. of Families4,0473,4782,87410,399
Completed Construction3,8163,3692,82110,006
Commissioned & being used3,0963,2472,8219,164

Days Used

39,11,977

44,62,714

37,67,750

1,21,42,441
CERS generated46,94446,14873,1871,66,27971%
Issued, Retired & Transferred to IndiGo44,25540,39738,7451,23,39753%

After receiving a total passenger contribution of ₹ 20.55 crores from 2014-15 to 2017-18, IndiGo decided to discontinue the passenger contribution model. The balance of ₹ 4.03 crore, which had not yet been spent on the 3 projects, was transferred to ADATS, Bagepalli. To this, IndiGo added an extremely generous CSR grant of ₹ 6.8 crore to ensure that the projects are completed without any interruption.

As on 13 July 2021, the financial position is as under:

Received from Passengers & IndiGo CSR, including Interest earned₹ 28,54,32,700100%
Given to NGOs₹ 20,66,36,08072%
FCN Handling Charge₹ 2,87,22,21810%
Bank Charges₹ 47,6180%
FD & Bank Balance₹ 5,02,63,69418%

And the current ERPA position is:

ERPA Target2,34,090CERs100%
Issued & Retired97,281CERs42%
Pending Issuance26,116CERs11%
Generated; not verified35,121CERs15%
Balance to give IndiGo75,572CERs32%

Finance Reports