The country's premier stock exchange BSE Ltd on Wednesday launched 'BSE-Greenex', the first environmental friendly equity index, which will enable investors take more informed decisions in the green theme of India.

Corporate Affairs Minister Veerappa Moily inaugurated the new initiative by striking the gong at the BSE here today.

BSE in association with gTrade (supported by GIZ promoted by Germany, Observer Research Foundation and IIM Ahmedabad) has constructed BSE-Greenex, designed specifically to promote green investing, with emphasis on financial performance and long-term viability of companies.

It is based upon purely quantitative and objective performance signals to assess carbon performance.

BSE-Greenex includes top 20 companies based on Green House Gas Numbers, Free Float Market capitalisation and turnover. These companies include Tata Steel, SBI, L&T, ICICI Bank, Tata Motors, Sun Pharmaceuticals, NTPC, Dr Reddy's Labs, HDFC, Bharat Heavy Electricals, GAIL, Hindustan Unilever, Cipla, Sterlite Industries, Tata Power, Ambuja Cements, Lupin, DLF, Glaxosmithkline and Reliance Infrastructure.

"The companies and investors in developing countries like India, need to recognise the value created by corporations through the efficient and sensible use of energy.

"The Ministry of Corporate Affairs has been very active in this regard. I hope the BSE-Greenex lists companies that are able to marry financial performance and carbon efficiency.

I feel that this Index's objectivity will be its strength and the differentiator," Moily said. It will also help the Government to gauge policy implementation and acceptance with regard to energy usage and efficiency measures, he said. .