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ARTICLE · 29 NOVEMBER 2022

Government Of India Introduces The Framework For Sovereign Green Bonds

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Nations across the world are taking steps to meet their respective environmental, social and governance (ESG) commitments, pursuant to various global commitments in the backdrop of the United Nations Sustainable Development Goals (UN SDGs) and international treaties.

IndiaFinance and Banking
Manisha Shroff
Manisha Shroff
Suhana Islam Murshedd
Suhana Islam Murshedd
Paridhi Rasiwasia
Paridhi Rasiwasia
Saranya Karanath
Saranya Karanath
Rishabh Kumar
Rishabh Kumar
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Nations across the world are taking steps to meet their respective environmental, social and governance (ESG) commitments, pursuant to various global commitments in the backdrop of the United Nations Sustainable Development Goals (UN SDGs) and international treaties especially the 'Nationally Determined Contribution' (NDCs) adopted under the Paris Agreement.

As a step towards fulfilling its international commitment, constitutional ideal to preserve the environment and pursuant to the announcement made by the Finance Minister in the Union Budget 2022-23 of India (Budget), the Government of India has introduced a framework for governing issuance of sovereign green bonds (Framework). The Framework aims to mobilise resources for green infrastructure projects in a bid to reduce the economy's carbon intensity. This is a positive step in furtherance of India's climate action plan and 'Panchamrit' commitments as elucidated by the Hon'ble Prime Minister at the COP26

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