Key Points
Indias market regulator intends to expand the scope of its sustainable finance framework to include more products, a potential boost to ESG-labeled instruments in Asia...
The Securities and Exchange Board of India will consult on introducing social bonds, along with sustainable and sustainability-linked bonds, to the current suite of environmental, social and governance debt...
Plans also include adding eligible asset-backed securities and a requirement for independent external reviews of all ESG debt, according to a consultation paper released Friday...
An existing regulatory framework covers products that raise proceeds for use only in relation to environmental sustainability such as renewable energy or water management meaning the proposed changes will allow issuers to seek debt for a broader range of activities, Sebi said in its document..
A stronger market in India for ESG debt would support Prime Minister Narendra Modis wider focus on green growth..
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Green & blue: Niti Aayog to draw up plan to bond with investors
13, Jul, 23The NITI Aayog has been tasked to look at ways to scale up issuances of green and blue bonds and come up with a detailed action plan based on global best practices, said the official, adding that the think tank will also look at ways to make the bonds more accessible. The Aayog will submit its suggestions to the market regulator, the Securities and Exchange Board of India.