IEX becomes India’s first carbon-neutral power exchange

Energy trading platform Indian Energy Exchange (IEX) became the country’s first carbon-neutral power exchange, using market based tradable instruments to offset its carbon emissions.

To reduce its carbon footprint, the Indian Energy Exchange (IEX) said in a statement that it voluntarily cancelled certified emissions reductions (CERs) from clean projects registered under the United Nations Framework Convention on Climate Change’s Clean Development Mechanism. A certificate issued by the United Nations to member countries for preventing one tonne of carbon dioxide emissions is known as a CER.

“We are honoured to achieve another milestone as a carbon-neutral exchange, as we further our commitment towards India’s Net Zero ambitions. This accomplishment is yet another step forward in our 15-year journey to enable India’s energy transition in a sustainable manner”, company said.

Net zero, or becoming carbon neutral, simply means not adding to the existing levels of greenhouse gases in the atmosphere. IEX stated that it is committed to meeting India’s net zero emissions target by developing an emissions-reduction ecosystem. IEX had EKI Energy as its sustainability partner in becoming India’s first carbon-neutral power exchange, which provided it with advisory and consultancy services in this climate action exercise, according to the exchange.

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