Mumbai (Maharashtra)[India], January 6 (ANI): The Reserve Bank of India on Friday said it would be issuing sovereign green bonds (SGrBs) for mobilising resources for boosting green infrastructure.
The proceeds will be deployed in public sector projects which help in reducing the carbon intensity of the economy.
It was notified in the half-yearly issuance calendar for marketable dated securities for the second half of the fiscal year 2022-23 on September 29, 2022 that SGrBs for an aggregate amount of Rs 16,000 crore would be issued, according to RBI statement. The Centre has since issued the Sovereign Green Bond Framework on November 9, 2022.
The issuance of the SGrBs would be on January 25 and February 9.
The Reserve Bank of India in consultation with the government has decided to notify the indicative calendar for issuance of SGrBs for the fiscal year 2022-23.
A sovereign green bond is a debt instrument issued by the central or state government to borrow money from investors with the commitment that the mobilised fund will be spent on climate or eco-system-related activities. This phenomenon began in 2016 with the Poland government issuing its first sovereign green bond. (ANI)