Sign In
Learn bits
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 

More Related Current Affairs View All

22 Aug

Uttarakhand State Authority for Minority Education (USAME) Bill, 2025

'The Uttarakhand Assembly on Wednesday passed the Minority Education Bill, 2025, extending minority status benefits to institutions run by the Sikh, Jain, Buddhist, Christian, and

Read More

22 Aug

India needs a national space law urgently

'A nation with a strong base in science and technology is a nation with a strong backbone” — these words of A.P.J. Abdul Kalam ring truer than before as India celebrate

Read More

22 Aug

Organ transplantation

'The National Organ and Tissue Transplant Organisation (NOTTO) recently issued a direction stating that women patients and relatives of deceased donors will receive priority in org

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps