Quick Summary
Union Minister for Finance Corporate Affairs Smt. Nirmala Sitharaman approves the final Sovereign Green Bonds framework of India. This approval will further strengthen Indias commitment towards its Nationally Determined Contribution (NDCs) targets, adopted under the Paris Agreement, and help in attracting global and domestic investments in eligible green projects. The proceeds generated from issuance of such bonds will be deployed in Public Sector projects which help in reducing carbon intensit
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FAQ :
The framework aims to attract global and domestic investments for eligible green projects and will deploy proceeds towards public sector projects that help reduce the carbon intensity of the economy.
Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman, has approved the final Sovereign Green Bonds framework of India.
Green bonds are financial instruments designed to raise funds for investment in environmentally sustainable and climate-suitable projects.
CICERO, a Norway-based Second Party Opinion provider, rated India's Green Bonds Framework as 'Medium Green' with a 'Good' governance score.
The issuance of Sovereign Green Bonds was announced in the Union Budget FY 2022-23 by the Union Finance Minister.
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