Nirmala Sitharaman approves sovereign green bonds to raise money for environmental projectsIndia Sovereign Green Bonds Framework: The nation's first Sovereign Green Bonds Framework has been authorised by Finance Minister Nirmala Sitharaman. The funds raised by the sale of sovereign green bonds will be used to fund government initiatives that will lower the economy's carbon intensity. Finance Minister Nirmala Sitharaman discussed obtaining money for green projects by issuing sovereign green bonds when presenting the budget for 2022–2023. Sovereign Green Bonds are a type of financial instrument used to raise money for projects that are resilient to climate change and the environment. Compared to traditional bonds, sovereign green bonds have a relatively lower cost of capital.

Source: dna November 10, 2022 19:54 UTC