Press Room
IDEAcarbon and MCX sign Strategic Alliance
IDEAcarbon has signed a binding Memorandum of Understanding (MOU) with the Multi Commodity Exchange of India (MCX).
Under the terms of the MOU, IDEAcarbon has been appointed by MCX to be its global strategic advisor on climate change policy and strategic business opportunities in carbon markets. With the assistance of MCX, IDEAcarbon will create instruments that MCX will make available for trading on the MCX platforms.
"We are very happy to be working with IDEAcarbon, a global leader in carbon market standards and policy" said Mr. Joseph Massey, the Managing Director and CEO of MCX. "We look forward to jointly developing transparent rated instruments for CERs, which presently have little liquidity. Our ambition with IDEAcarbon is to create a truly liquid market for Indian sourced CERs. We will integrate IDEAcarbons ratings into the design of carbon instruments we offer on MCX."
Mr. Shandi Modi, Founder and Chief Executive Officer of IDEAcarbon, said "this MOU represents a key step in developing the carbon market in India and internationally in that for the first time trading will be based on rated carbon projects."
About IDEAcarbon and IDEAglobal Group
IDEAcarbon is an independent and professional provider of ratings, research and strategic advice to carbon market participants. IDEAcarbons services are designed to provide leading financial institutions, corporations, governments, traders and developers with unbiased intelligence and analysis of the factors that affect the pricing of carbon market assets.
The IDEAcarbon team includes leading experts in the carbon and energy markets. Mr Ian Johnson, former VP of sustainable development at the World Bank, is chairman of IDEAcarbon. Lord Nicholas Stern is Vice Chairman of IDEAGlobal Group (IGG), the parent company of IDEAcarbon. "We at IDEAcarbon have an unparelled opportunity to play a role in improving and expanding the markets and hence in responding to the challenge of climate change", Lord Stern said when joining IDEAGlobal Group.
IDEAGlobal Group is an independent, global research organization, with its headquarters in Singapore, and subsidiaries in New York and London. IDEAGlobal Group is a leading supplier of independent and impartial advice to central banks in the formation of policy and is read by financial professionals in over 1,000 dealing rooms worldwide.
About MCX
Headquartered in the financial capital of India, Mumbai, MCX (www.mcxindia.com) is a demutualised nationwide electronic multi-commodity futures exchange set up by Financial Technologies with permanent recognition from the Government of India for facilitating online trading, clearing & settlement operations for futures market across the country. The exchange started operations in November 2003.
For further information please contact:
IDEAcarbon
Amul Gogna
Managing Director
agogna@ideacarbon.com
+44 (0) 1624 681250
MCX
Joseph Masseybr>Managing Director and CEO
joseph.massey@mcxindia.com
+91 - 22 - 66494000