IEX incorporates subsidiary named International Carbon Exchange

Indian Energy Exchange (IEX) has incorporated a wholly owned subsidiary company International Carbon Exchange (ICX) today to explore business opportunities in the voluntary Carbon Market.

ICX will enable participants to buy and sell voluntary carbon credits at competitive prices through its transparent & reliable platform and facilitate reduction of global GHG emission by 45% by 2030 to get on track to limit global warming to 1.5 degrees. The recently concluded COP 27 reiterated the need to ramp-down GHG emissions. In the national context, India has set a target to Net Zero emissions by 2070.

Additionally, ICX will facilitate corporates to meet their climate commitments goals. The Exchange platform will provide a robust market signal for attracting further investments in the sustainable projects and help corporates to allocate capex towards energy transition in most optimum manner. As per industry estimates, the annual demand for voluntary carbon credit globally is expected to reach around 1.5 Gigatons, with India contributing around 200 Million tonnes by 2030.

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