Update on Indian Carbon Exchange (ICX)
ICX, the wholly owned subsidiary of IEX, has been designated by the I-TRACK Foundation
Board as the local I-REC(E) Issuer in India.
Who is I-TRACK Foundation Board?
The International Tracking Standard Foundation (I-TRACK Foundation) is a non-profit organization that provides a robust standard for developing attribute tracking systems. I-TRACK Foundation is acknowledged by major reporting frameworks such as the Greenhouse Gas Protocol (GHGP), CDP, and RE100 as a reliable backbone for credible and auditable tracking instruments. It ensures the highest quality systems and adherence to best practices designed to avoid double counting, double certificate issuance, and double attribute claims.
The International Renewable Energy Certificate (I-REC) for Electricity is referred to as an I-REC(E) and is an exchangeable Energy Attribute Certificate (EAC).
What does this mean for Business of ICX?
As the Local Issuer for I-REC(E) in India, all new Project Registrations for IREC(E) and the issuance of I-REC(E) Certificates will be done by ICX for the entities based in India.
Source: IEX Media Release dated 03.09.2024
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