MintCarb Carbon Price Index (MCPI)
MCPI is MintCarb's assessed daily price for India CCTS carbon credits — the first published daily benchmark for India's nascent carbon market.
What is MCPI?
The MintCarb Carbon Price Index (MCPI) is a daily assessed benchmark price for India Carbon Credit Certificates (CCCs) under the Carbon Credit Trading Scheme (CCTS). It is published at 18:00 IST every trading day.
India's carbon market is new and liquidity is still developing. Unlike the EU ETS (which has deep exchange-traded liquidity), India CCTS trades are spread across three exchanges (IEX, HPX, PXIL) plus OTC bilateral deals. MCPI aggregates all available price signals into a single assessed benchmark — similar to how Platts or Argus assess commodity prices.
Data Sources & Weighting
Daily settlement prices from Indian Energy Exchange Green segment — highest liquidity India carbon instrument.
Hindustan Power Exchange daily trades — complementary exchange with overlapping instruments.
Power Exchange India — primarily REC and ESCert settlements.
MintCarb-assessed OTC bilateral trades reported by registered brokers and market participants.
Calculation Method
1. Data collection: At 17:30 IST, MintCarb ingests settlement and intra-day trade data from IEX, HPX, and PXIL public reports.
2. Volume-weighted averaging: Each exchange price is volume-weighted within its data set (larger trades carry more weight).
3. Cross-exchange aggregation: Exchange prices are combined using the fixed weights above.
4. OTC adjustment: If OTC trades are reported for the day, a 10% OTC component is blended in using a trim-mean to exclude outliers.
5. Publication: MCPI is published at 18:00 IST and available via GET /v1/markets/price-index immediately.
Limitations & Disclaimers
· MCPI is an assessed benchmark, not an exchange-traded price. It reflects MintCarb's methodology, not a regulatory or government-published rate.
· India CCTS liquidity is still developing. On days with low volume, the assessment is less precise.
· MCPI should not be used as the sole basis for contract settlement or regulatory compliance without cross-checking against exchange publications.
· MintCarb reserves the right to revise the methodology as market structure evolves.