The first power exchange in the nation to deploy market-based tradable instruments to offset its carbon emissions is Indian Energy Exchange (IEX), a powerful energy trading platform, which was announced on December 14. The leading national provider of energy, carbon credits, and quality management services, EKI Energy Services Limited, served as the exercise’s sustainability partner by providing direction and consultation. For the delivery of electricity, renewable energy, and certifications, including renewable energy and energy efficiency, IEX provides a national automated trading platform. The exchange platform enhances price discovery effectiveness and trade execution speed, increasing the openness and transparency of the Indian energy market.
IEX’s commitment to climate mitigation would also help companies and industries that want to be associated with a group that respects the environment and will enable them to contribute to the pressing issue of climate change significantly. According to the United Nations Environment Programme (UNEP) 2022 study, to maintain global warming to 1.5 degrees, greenhouse gas (GHG) emissions must be decreased globally by 45% by 2030. The estimated total global GHG emissions in 2021 were 53 GTCO2eq. The recently finished COP 27 meeting reiterated the need to lower GHG emissions.
By 2070, India wants to have no carbon emissions. Despite having lower per-capita emissions than the global average, India was the third-largest volume emitter of carbon dioxide in 2020, according to the UN’s Emissions Gap Report (EGR). India has pledged as part of its Nationally Determined Contributions to reduce the carbon intensity of its GDP by 45% by 2030. (NDC). Anuncios India has also restated its goal of generating 50% of its electricity from non-fossil fuel sources by 2030 and its dedication to conserving forest cover, which acts as a carbon sink.