diff --git a/CHANGELOG.md b/CHANGELOG.md
index 8606402db8e7..93f209d5e2cb 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -40,6 +40,11 @@ Ref: https://keepachangelog.com/en/1.0.0/
 ### Features
 
 * (upgrade) [#12603](https://github.com/cosmos/cosmos-sdk/pull/12603) feat: Move AppModule.BeginBlock and AppModule.EndBlock to extension interfaces
+
+### Improvements
+
+* [#12668](https://github.com/cosmos/cosmos-sdk/pull/12668) Add `authz_msg_index` event attribute to message events emitted when executing via `MsgExec` through `x/authz`.
+
 ### Bug Fixes
 
 * (x/mint) [#12384](https://github.com/cosmos/cosmos-sdk/pull/12384) Ensure `GoalBonded` must be positive when performing `x/mint` parameter validation.
diff --git a/x/authz/keeper/keeper.go b/x/authz/keeper/keeper.go
index abf654160fe8..6273dd198fea 100644
--- a/x/authz/keeper/keeper.go
+++ b/x/authz/keeper/keeper.go
@@ -2,10 +2,11 @@ package keeper
 
 import (
 	"fmt"
+	"strconv"
 	"time"
 
 	"github.com/gogo/protobuf/proto"
-
+	abci "github.com/tendermint/tendermint/abci/types"
 	"github.com/tendermint/tendermint/libs/log"
 
 	"github.com/cosmos/cosmos-sdk/baseapp"
@@ -74,13 +75,17 @@ func (k Keeper) update(ctx sdk.Context, grantee sdk.AccAddress, granter sdk.AccA
 // grants from the message signer to the grantee.
 func (k Keeper) DispatchActions(ctx sdk.Context, grantee sdk.AccAddress, msgs []sdk.Msg) ([][]byte, error) {
 	results := make([][]byte, len(msgs))
+
 	for i, msg := range msgs {
 		signers := msg.GetSigners()
 		if len(signers) != 1 {
 			return nil, sdkerrors.ErrInvalidRequest.Wrap("authorization can be given to msg with only one signer")
 		}
+
 		granter := signers[0]
-		// if granter != grantee then check authorization.Accept, otherwise we implicitly accept.
+
+		// If granter != grantee then check authorization.Accept, otherwise we
+		// implicitly accept.
 		if !granter.Equals(grantee) {
 			authorization, _ := k.GetCleanAuthorization(ctx, grantee, granter, sdk.MsgTypeURL(msg))
 			if authorization == nil {
@@ -90,6 +95,7 @@ func (k Keeper) DispatchActions(ctx sdk.Context, grantee sdk.AccAddress, msgs []
 			if err != nil {
 				return nil, err
 			}
+
 			if resp.Delete {
 				err = k.DeleteGrant(ctx, grantee, granter, sdk.MsgTypeURL(msg))
 			} else if resp.Updated != nil {
@@ -98,6 +104,7 @@ func (k Keeper) DispatchActions(ctx sdk.Context, grantee sdk.AccAddress, msgs []
 			if err != nil {
 				return nil, err
 			}
+
 			if !resp.Accept {
 				return nil, sdkerrors.ErrUnauthorized
 			}
@@ -112,14 +119,19 @@ func (k Keeper) DispatchActions(ctx sdk.Context, grantee sdk.AccAddress, msgs []
 		if err != nil {
 			return nil, sdkerrors.Wrapf(err, "failed to execute message; message %v", msg)
 		}
+
 		results[i] = msgResp.Data
 
 		// emit the events from the dispatched actions
 		events := msgResp.Events
 		sdkEvents := make([]sdk.Event, 0, len(events))
-		for i := 0; i < len(events); i++ {
-			sdkEvents = append(sdkEvents, sdk.Event(events[i]))
+		for _, event := range events {
+			e := event
+			e.Attributes = append(e.Attributes, abci.EventAttribute{Key: []byte("authz_msg_index"), Value: []byte(strconv.Itoa(i))})
+
+			sdkEvents = append(sdkEvents, sdk.Event(e))
 		}
+
 		ctx.EventManager().EmitEvents(sdkEvents)
 	}
 
diff --git a/x/authz/keeper/keeper_test.go b/x/authz/keeper/keeper_test.go
index 1234cc271b47..40370b729255 100644
--- a/x/authz/keeper/keeper_test.go
+++ b/x/authz/keeper/keeper_test.go
@@ -228,9 +228,12 @@ func (s *TestSuite) TestDispatchedEvents() {
 	result, err := app.AuthzKeeper.DispatchActions(s.ctx, granteeAddr, executeMsgs)
 	require.NoError(err)
 	require.NotNil(result)
+
 	events := s.ctx.EventManager().Events()
+
 	// get last 5 events (events that occur *after* the grant)
 	events = events[len(events)-5:]
+
 	requiredEvents := map[string]bool{
 		"coin_spent":    false,
 		"coin_received": false,
diff --git a/x/authz/keeper/msg_server.go b/x/authz/keeper/msg_server.go
index 2e5183865a2a..192ac72d22db 100644
--- a/x/authz/keeper/msg_server.go
+++ b/x/authz/keeper/msg_server.go
@@ -17,6 +17,7 @@ func (k Keeper) Grant(goCtx context.Context, msg *authz.MsgGrant) (*authz.MsgGra
 	if err != nil {
 		return nil, err
 	}
+
 	granter, err := sdk.AccAddressFromBech32(msg.Granter)
 	if err != nil {
 		return nil, err
@@ -26,6 +27,7 @@ func (k Keeper) Grant(goCtx context.Context, msg *authz.MsgGrant) (*authz.MsgGra
 	if authorization == nil {
 		return nil, sdkerrors.ErrUnpackAny.Wrap("Authorization is not present in the msg")
 	}
+
 	t := authorization.MsgTypeURL()
 	if k.router.HandlerByTypeURL(t) == nil {
 		return nil, sdkerrors.Wrapf(sdkerrors.ErrInvalidType, "%s doesn't exist.", t)
@@ -66,13 +68,16 @@ func (k Keeper) Exec(goCtx context.Context, msg *authz.MsgExec) (*authz.MsgExecR
 	if err != nil {
 		return nil, err
 	}
+
 	msgs, err := msg.GetMessages()
 	if err != nil {
 		return nil, err
 	}
+
 	results, err := k.DispatchActions(ctx, grantee, msgs)
 	if err != nil {
 		return nil, err
 	}
+
 	return &authz.MsgExecResponse{Results: results}, nil
 }