Pursuant to the commitments made by the Government of India in the Glasgow Climate Change Conference, the Ministry of Finance issued the Framework for Sovereign Green Bonds (“Framework”), aimed at reducing carbon intensity of the Indian economy. One of the key features of the sovereign green bonds (“SGBs”) is that their redemption and interest payments will not be conditional on the performance of the eligible green projects (for which proceeds of SGBs will be utilised). The Framework applies to all SGBs issued by the Government of India.
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