National Politics

Indian Energy Exchange forms subsidiary to explore business in carbon market

Energy

New Delhi: Energy exchange platform Indian Energy Exchange on Tuesday said it has incorporated a subsidiary to explore business opportunities in the voluntary carbon market.
The wholly-owned subsidiary company is named International Carbon Exchange Private Limited (ICX). According to a statement by IEX, the new entity will enable participants to buy and sell voluntary carbon credits at competitive prices through its platform and facilitate the reduction of global Greenhouse Gas emissions by 45 per cent by 2030 to get on track to limit global warming to 1.5 degrees.
The recently concluded COP27 reiterated the need to ramp-down GHG emissions. India had set a target of Net Zero emissions by 2070.
“With our earlier diversification initiative, Indian Gas Exchange, transforming the Gas market in the country, we continue to sustainably transition India’s energy market through efficient and asset-light businesses. Establishing a transparent and reliable carbon trading platform is an important step towards achieving global as well as national sustainability aspirations,” said SN Goel, Chairman and Managing Director of IEX.
Additionally, ICX will facilitate corporates to meet their climate commitments goals by providing a robust market signal for attracting further investments in sustainable projects and help corporates to allocate capex (capital expenditure) towards energy transition in the most optimum manner.

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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, IEX said.
Voluntary carbon markets are markets where carbon credits are purchased, usually by organizations, for voluntary use rather than to comply with legally binding emissions reduction obligations. Voluntary carbon markets are growing, driven in part by demand from businesses looking to ‘offset’ their emissions.

(Except for the headline, this story has not been edited by HW News staff and is published from a syndicated feed.)

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Delhi Chief Secy seeks details from Sisodia’s office after Deputy CM accuses LG of “bypassing” ministers

ANI
CBI denies manish sisodia claim

New Delhi: Delhi Chief Secretary Naresh Kumar has written to the office of Manish Sisodia to provide by January 2, 2023, the details of files and orders on the basis of which the Deputy Chief Minister had alleged that the Lieutenant Governor (LG) V K Saxena was “bypassing” ministers and giving direct orders to bureaucrats.
According to sources, the letter by the chief secretary was in response to a communication sent by Sisodia on December 23 alleging that the LG Secretariat has “of late, in recent past resorted to the practice of calling for files from various departments through their respective Secretaries, the Chief Secretary and transacting business thereon, such as approving the issuance of notifications etc., completely bypassing the concerned Minister as also the Cabinet.” Sisodia had in the letter marked to the Chief Secretary, Private Secretaries, Secretaries and head of departments(HoDs), blamed them for sending “certain files pertaining to important policy decisions… directly to the LG Secretariat without routing the same/putting it up to me as the Minister in charge of the Department….” and alleged that it had come to his notice that “LG has given direct orders/directions and approvals to officers bypassing the Council of Ministers …”
Sisodia’s order also directed the chief secretary and other private secretaries, secretaries to “forthwith place before me any/all files that have been sent by you on any/all matters pertaining to the Business of GNCTD directly to the LG, bypassing my office”.

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The order letter by Sisodia, accessed by ANI, further reads “any directions received directly from LG should also be placed before Minister in charge for necessary directions/course of action before implementing the same…”
A copy of the communication from the chief secretary’s office has also been marked to all private secretaries, secretaries, CEOs, MDs, Directors, Commissioners with instructions to provide details of all such cases referred to by the Deputy Chief Minister, (if no such case is there, then provide a nil report), to the Chief Secretary latest by January 2, 2023, for further necessary action.

(Except for the headline, this story has not been edited by HW News staff and is published from a syndicated feed.)

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