Indian Energy Exchange becomes India's First Carbon Neutral Power Exchange

Indian Energy Exchange (IEX), India's leading and premier energy market platform, has become a Carbon Neutral Power Exchange. IEX is now India's first carbon-neutral Power Exchange, using market based tradable instruments to offset its carbon emissions.

To reduce its carbon footprints, IEX voluntarily canceled CERs (certified emissions reductions) from clean projects registered under the Clean Development Mechanism of UNFCCC (United Nations Framework Convention on Climate Change) and used marketbased tradable instruments. EKI Energy, India's leading pre-eminent global service provider in the sphere of Energy, Carbon Credit & Quality Management, was the sustainability partner by providing advisory & consultancy services in this climate action exercise.

Shri SN Goel, Chairman and MD, IEX said," We are honored to achieve another milestone as a carbon-neutral exchange, as we further our commitment towards India's Net Zero ambitions. This achievement is yet another milestone in our 15-year journey towards enabling India's energy transition in a sustainable manner.

IEX's commitment towards climate mitigation will support the corporates and industries who want to be associated with an environmentally responsible organization and will enable them to contribute towards the critical challenge of climate change.

According to the recent UNEP 2022 report, global GHG emission must be reduced by 45% by 2030 to get on track to limit global warming to 1.5 degrees. The total global GHG emissions has been estimated at around 53 GTCO2eq in 2021. The recently concluded COP 27 reiterated the need to ramp-down GHG emissions. In our national context, India has set a target to Net Zero emissions by 2070.

IEX is committed to contribute towards fulfilling India's Net Zero emissions' target by creating an ecosystem for reduction of emissions.

Shares of Indian Energy Exchange Limited was last trading in BSE at Rs. 146.90 as compared to the previous close of Rs. 144.30. The total number of shares traded during the day was 4164985 in over 9001 trades.

The stock hit an intraday high of Rs. 148.05 and intraday low of 145.20. The net turnover during the day was Rs. 602445929.00.

Source : Equity Bulls

Keywords

IndianEnergyExchange INE022Q01020 IEX CarbonNeutral PowerExchange