The Bombay Stock Exchange on Wednesday launched India's first carbon-efficient live index, looking to give a boost to socially aware investors. The new 'BSE-Greenex' index will comprise 20 stocks based on a minimum carbon footprint, market capitalisation and turnover, the BSE said on its website.
The 'BSE-Greenex' will assess the energy efficiency of firms based on energy and financial data. The index includes India's largest commercial bank State Bank of India, the world's seventh largest steel producer Tata Steel, vehicle maker Tata Motors and Sterlite Industries, the local arm of global resources group Vedanta. "There is a growing local and international need to identify 'green' investments and companies with a strong social responsibility," BSE's deputy chief executive Ashish Chauhan told AFP. "There are many socially aware investors willing to pay a premium for green investments in companies in the hope of getting better returns."
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