Indian Energy Exchange (IEX) has incorporated a wholly owned subsidiary company International Carbon Exchange Private Limited (ICX) 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 and reliable platform and facilitate reduction of global greenhouse gas emission by 45 per cent by 2030 to get on track to limit global warming to 1.5 degrees. 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.