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Mahesh

18/03/22 09:47 AM IST

India Planning For Rs 24,000 Crore Sovereign Green Bond

In News 

  • The government of India is planning to issue at least Rs 24,000 crore or $3.3 billion in sovereign green bonds.
  • The development comes as India is making a shift towards a low-carbon economy. 
Details 

  • Globally, several countries are executing sustainable investments options.
  • India, which is the third-largest greenhouse gases emitter has planned to four times increase its renewable energy power generation capacity by 2030.
  • In February this year, the renewable energy companies raised debt worth Rs 17.6 billion.
Green Bond 

  • A green bond is a type of fixed-income instrument that is specifically earmarked to raise money for climate and environmental projects.
  • These bonds are typically asset-linked and backed by the issuing entity’s balance sheet, so they usually carry the same credit rating as their issuers’ other debt obligations.​
  • Green bonds may come with tax incentives to enhance their attractiveness to investors.
  • The World Bank is a major issuer of green bonds.
Source- Indiatoday 

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