The amount India has mopped up through green bond issuances grew at a slower rate than in many peer economies.
India raised $22.1 billion through green bonds till the first half of 2022, compared to Russia’s $2.6 billion, Brazil’s $11.2 billion, and China’s $250 billion during the same period. The figure for Japan was $44.5 billion and US $334 billion.
A green bond is a debt instrument used to finance projects of environmental importance. India’s Rs 8,000-crore sovereign green bond issuance on Wednesday comes amid a surge in sovereign participation in the market globally. Sovereign issuances accounted for less than 1 per cent in 2016. This has since risen to 15.9 per cent share in 2022.
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