Shri Ashishkumar Chauhan, MD & CEO, NSE said : “The launch of Green Bond issue by Indore municipal corporation is a great example of cooperative federalism & depth of local governance model in India.
Rapid growth of urbanization requires urban local bodies to keep up with the huge expansion and upgrades to the existing urban infrastructure. Municipal bonds provide an alternative means of financing to urban local bodies and reduce the dependency on central and state grants. Most of the urban infra bonds may be categorized as green bonds given that proceeds are predominantly targeted towards energy, transport, water management, sewage treatment, energy saving etc. Green Municipal bonds will also bring in new foreign investors who specialize in sustainable financing and invest in projects with environmental, social and governance considerations.
The public issue of Indore Municipal bonds got an overwhelming response with an overall subscription of 5.91 times the issue size. It reflects that there is good appetite among the investors for Green bonds. Municipal bonds provide an opportunity to participate in nation building in addition to earning returns.
The public issue of green bonds by IMC would give impetus to development of green financing and contribute towards India’s vision for transition towards a clean and green energy future
The global green bond market is witnessing an exponential growth and has crossed the milestone of 2 trillion USD in terms of cumulative green bond issuance.
India has also witnessed green bond issuances of about 10.8 billion USD during 2019-2022 by the corporates, PSUs and financial institutions.
The public issue of green bonds by IMC would give impetus to development of green financing and contribute towards India’s vision for transition towards a clean and green energy future.
NSE is committed to play an active and participatory role while contributing towards India’s vision of sustainable future enshrined under “Panchamrit” vision of our honorable Prime Minister”
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