Role Of Green Bonds In India's Climate Change Goals

The recent Covid-19 pandemic has made it abundantly clear that global scale disasters without timely mitigation and planning can have a deep and lasting economic and social impact. The Climate Impact Lab estimatesthat 76% of the world's population will suffer from higher mortality rates and an additional of 9.1 million people will die each year till 2100 if climate change remains unaddressed. This will be particularly challenging for some countries as the effect of climate change is predicted to be distributed unevenly throughout the world. David Rotman, the editor of MIT TechReview (23 April 2019) has observed that India will bear more than 20% of global social cost of carbon. With no boundaries to the social cost of carbon, the economic future of countries is becoming more interlinked. Assessment, financing and implementation of climate changes targets is needed at the national level so that the impact can be sustained at a global level.