India, October 15, 2020: Aiming towards climate remediation, Innovative Financial Advisors Pvt Ltd (Fiinovation), renowned technical research and advisory agency in the CSR domain has partnered with Sandvik Mining and Rock Technology India Pvt Ltd, a leading rock tool manufacturing company. Sandvik aims to cut down its carbon footprint by 2030 and the project is an extension of their resolution. As part of this partnership, Fiinovation will support the CSR intervention for reducing carbon emission in the industrial zone of Hyderabad’s Patancheru area.
Fiinovation will provide technical support and manage the on-ground implementation of the phytoremediation based initiative through its implementation partner, Society for Women Education and Environment Trainings (SWEET), a Telangana-based NGO. The intervention envisages replenishing the green cover of the Patancheru industrial area while sensitizing the local communities about the hazardous effects of forest degradation and deforestation. The project aims to reduce toxic contaminants from the soil, air and water by planting around 25,000 saplings of specific trees that aid the process of phytoremediation.
Speaking about this unique initiative, Dr Soumitro Chakraborty, CEO, Innovative Financial Advisors Pvt. Ltd said, “The key aim of remediation is to restore the environment and limiting further damage. This requires concerted efforts and a holistic approach. Also, climate change is a multi-layered issue and there need to be multi-faceted measures to mitigate it. Through this project, we will work towards finding solutions to fight climate change and solve other environmental issues to make the earth a better place to live in.”
Phytoremediation is a method that relies on natural processes by which the plants degrade contaminants and/or sequester carbon, limiting the greenhouse gas emissions. The trees in due course of time will stabilize and improve the soil conditions and arrest water runoffs, thereby preventing soil erosions. In the long term, the trees will create carbon sinks to sequester carbon and limit greenhouse gas emissions. This will improve the air quality index of the area. The remediation process will augment groundwater recharge by creating natural water filters which in return will replenish the water table in terms of both quantity and quality.