Power Exchange aims to launch carbon-credit trading platform by Q2FY25: MD
NEW DELHI : Power Exchange India Ltd (PXIL), promoted by NSE and NCDEX, aims to launch its carbon-credit trading platform by the second quarter of next fiscal (FY25) year as it is already working on the technology for the product, its managing director and chief executive Satyajit Ganguly said. In an interview, Ganguly said that as the regulations for such platforms are likely to be rolled out by the second quarter, the exchange would be ready by then with its technology and also complete its educational workshops for industry participants across sectors to get them on board the platform and trade in carbon credits. "We have already started working on the technology.
Our primary tests are all okay. (Existing) ESCerts (energy saving certificates) have already got the similar technology. It is already running successfully.
What we have to do now is testing with our clients, which we want to do as the regulations come in. So, we are ready. We expect (the regulations to come in) by Q2.
We will be able to do it much before that," he said. The company is looking at onboarding more companies and businesses as members in order to achieve higher penetration, as carbon trading starts in the country. "I think technology-wise we are ready.
Business-wise, connect-wise by quarter one (Q1) we will be completely ready. That is where we are right now. It’s a fully automated technology.
Initially, it will take some time to educate the market, have workshops. We have got sufficient budget for that. We will have workshops in different states like Punjab, which has steel pockets, Tamil Nadu, which has textile industry etc.
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