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Ecology & Environment
Mahesh

07/10/22 07:22 AM IST

Sustainable Finance committee submits report to IFSCA

In News 
  • An expert committee headed by former environment and forest secretary C K Mishra has submitted a report on sustainable finance suggesting the development of a carbon market.
Recommendations 
  • developing a voluntary carbon market
  • framework for transition bonds
  • enabling de-risking mechanisms
  • promoting regulatory sandbox for green fintech
  • facilitating the creation of a global climate alliance among others
  • setting up a dedicated MSME platform for sustainable lending
  • use of innovative instruments such as catastrophe bonds, municipal bonds, green securitisation, blended finance
Sustainable Finance and IFSCA 
  • Sustainable finance or green finance is the set of financial regulations, standards, norms and products that pursue an environmental objective, and in particular to facilitate the energy transition.
  • IFSCA (est. in 2020) is a unified authority for the development and regulation of financial products, financial services and financial institutions in the International Financial Services Centre (IFSC) in India.
  • Headquarters in GIFT City, Gandhinagar (Gujarat).
  • At present, it is the only international financial services centre in India.
  • Main objective: Develop a strong global connection and focus on the needs of the Indian economy as well as serve as an international financial platform for the entire region and the global economy as a whole.
Source- Economic Times 

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