Fitch unit said the government's clean-energy green growth targets, incentive policies and programmes would spur further fundraising needs from domestic issuers in renewable energy, energy efficiency and clean transportation.
India needs to make further structural changes to improve financing conditions for project developers to build upon sovereign green bond issuance to scale up domestic funding capacity, according to Sustainable Fitch.
In a report listing steps to revise the framework, the unit of Fitch Ratings said implementing public-sector credit guarantees would help lower financing costs. Also, offering credit default swaps to increase default protection for investors.
India has not yet had a green taxonomy, despite GSSS bond issuance activity from Indian entities since 2015. The Sustainable Finance Roadmap of India, set up by the government in 2020, aims to establish a taxonomy for sustainable activities, which we believe is crucial to establish the definition of eligible green activities. Such a
First Published: Feb 10 2023 | 11:20 AM IST