IEX is India’s First Carbon-Neutral Power Exchange

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by KnowESG
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Indian Energy Exchange (IEX), an energy trading platform in India, became the country's first carbon-neutral power exchange by offsetting its carbon emissions with market-based tradable instruments.

IEX cancelled CERs (certified emission reductions) from clean projects that had been registered under the Clean Development Mechanism of the United Nations Framework Convention on Climate Change. This was done to reduce its carbon footprint.

According to the company, IEX's commitment to climate mitigation will enable corporations and industries that wish to be associated with an environmentally responsible organisation to contribute to the urgent challenge of climate change.

"We are honoured 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 sustainably," said SN Goel, chairman and managing director at IEX.

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Source: Money Control