Hexa Climate, Asvata partner to bolster afforestation project in West Bengal

Hexa Climate has announced the launch of a pioneering afforestation project in Purulia, West Bengal. Hexa Climate is a portfolio company of I Squared Capital and Asvata, the carbon credit venture of RPG Group.

The project, which aims to transform fallow land into thriving forest ecosystems, involves planting 500,000 trees, with a potential to scale-up to 1.5 million trees. It will be registered under the VERRA VM0047 methodology, supported by advanced satellite monitoring and drone surveillance to ensure transparency, traceability and high-quality carbon outcomes.

The project shall help in improving soil fertility, promoting biodiversity and replenishing ground water. In addition to environmental restoration, it also supports community upliftment by generating employment, encouraging beekeeping and vermi-composting.

“Our foray into Nature-Based Solutions is a natural extension of our mission to connect the dots for a better world,” said Sanjeev Aggarwal, Founder and Executive Chairman of Hexa Climate. “We are building climate-resilient assets that support businesses in achieving their Net Zero goals with integrity and impact.”

“We are delighted to partner with Hexa Climate on a project that exemplifies the dual power of climate action.  We are excited to collaborate with local farmers, communities and experts to implement best practices in forestry and are committed to creating long-term value for both people and the planet. This is carbon finance with purpose,” Navin Mathur, COO, Asvata (RPG Group).

Hexa Climate provides Net Zero solutions to corporates across APAC. It plans to deploy over USD 500 million in equity across its verticals including renewables, battery storage solutions and carbon offset solutions. In a carbon market increasingly scrutinized for quality and credibility, Hexa Climate is positioning itself as a solutions partner to corporates seeking research-backed, verifiable carbon credits. Future carbon projects under development include mangroves, biochar, and biodigesters, forming a diversified portfolio of scalable climate solutions.

With regards to Asvata, its the carbon credit venture headquartered in Mumbai of the RPG Group, is committed to accelerating climate action through high-impact carbon offset solutions.