Sovereign Green Bonds of Rs.16,000 crore proposed to be issued in the current FY for mobilising resources for green infrastructure projects

Sovereign Green Bonds (SGBs) amounting Rs.16,000 crore are proposed to be issued in the current financial year for mobilising resources for green infrastructure projects. Rs. 8,000 crore has already been raised in the first tranche of the SGBs. This was stated by the Union Minister of State for Finance, Shri Pankaj Chaudhary, in a written reply to a question in Lok Sabha.

The Minister stated that these bonds will be issued according to Framework for Sovereign Green Bonds. The framework has been released on 9^th Nov, 2022 by the Government of India.

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