MUMBAI (Reuters) - The Bombay Stock Exchange launched India's first carbon efficient index on Wednesday, aiming to provide a benchmark for socially aware investors.
The 20-share BSE-GREENEX includes some of India's leading companies such as Tata Motors (:TAMO.BOTAMO.BO), Tata Steel (:TISC.BOTISC.BO), ICICI Bank (:ICBK.BOICBK.BO), Larsen & Toubro (:LART.BOLART.BO), Housing Development Finance Company (BSE:HDFC.BO - NewsHDFC.BO), Reliance Infrastructure (:RLIN.BORLIN.BO), Dr Reddy's Laboratories (:REDY.BOREDY.BO) and DLF (BSE:DLF.BO - NewsDLF.BO).
"The cost of carbon-based energy production is increasing, and if companies become more efficient and reduce energy costs there is a chance of higher profitability," said Ashishkumar Chauhan, BSE's deputy chief executive officer.
"There are many socially aware investors willing to pay a premium to invest in green companies in the hope of getting better returns," he added.
The index can be used to develop green financial products including mutual funds, exchange-traded funds and structured products, the BSE said.
(Reporting by Aditi Shah; Editing by Ranjit Gangadharan)
There are no comments yet