Sovereign Green Bonds of Rs 16,000 cr to be issued in current fiscal

Sovereign Green Bonds (SGBs), amounting to Rs 16,000 crore, are proposed to be issued in the current financial year for mobilising resources for green infrastructure projects, the Parliament was told on Monday.

Rs 8,000 crore has already been raised in the first tranche of the SGBs, Minister of State for Finance Pankaj Chaudhary told the Lok Sabha in a written reply.

The Minister said that these bonds will be issued according to the Framework for Sovereign Green Bonds, released on November 9, 2022.

The resources mobilised by issuing Sovereign Green Bonds is part of the government’s overall market borrowings in year 2022-23. The proceeds will be deployed in public sector projects which help reduce the economy’s carbon intensity, the minister said.

–IANS

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