Indian Energy Exchange (IEX), in a statement, said that it has become India’s first carbon-neutral power exchange.
IEX said that it has achieved carbon neutrality by 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 market-based 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 and consultancy services in this climate action exercise.
Another milestone
S.N. Goel, Chairman & Managing Director, IEX said,” 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 in a sustainable manner.”
Global CHG emissions
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 emission has been estimated at around 53 GTCO2eq in 2021. The recently concluded COP27 reiterated the need to ramp-down GHG emissions. In our national context, India has set a target to Net Zero emissions by 2070.
Also read:IEX Starts Trading In Energy Saving Certificates
Committed towards climate change
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. IEX is committed to contribute towards fulfilling India’s Net Zero emissions’ target by creating an ecosystem for reduction of emissions, the statement said.
Featured photograph (source: Siemens Gamesa) is for representation only.
