BSE an alliance with gTrade (supported by GIZ promoted by Germany, Observer Research Foundation and IIM Ahmadabad) launched the new initiative, which is designed specifically to promote green investing.
BSE said in a release, “The BSE - Greenex Index is a veritable first step in creating a credible market based response mechanism in India, whereby both businesses and investors can rely upon purely quantitative and objective performance based signals, to assess “car bon performance,“ .
Top 20 companies from the BSE -100 Index that fit into the category of carbon emissary of carbon emissions, free float capitalisation and market turnover would make into the BSE - Greenex.
Some of the top notable companies that have been at the forefront in recent years to promote green investing mindset and will make into the Greenex Index are HDFC, NTPC, SBI (State Bank of India), Tata Steel, Glaxo Pharma, Tata Motors and L&T among others.
The BSE - Greenex has been into existence for the last 3 years, and taking into account the top 20 companies performance in as many years, the index has met with decent success. In the last 3 years, the BSE - Greenex has gained 32.36% compared with 42% rise in Sensex and 32% jump in BSE - 100 index.
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