India plans Rs 240 billion sovereign green bonds issuance

India has planned to issue sovereign green bonds valued at least Rs 240 billion as the country marks a shift towards a low-carbon economy.

The initial sale is expected to take place in the first half of the fiscal year 2022-23. The decision to sell more green debt will depend on the response to the initial issuance. This is India’s first venture into the green bond space, as it plans to fund renewable energy projects to help meet its goal of net-zero emissions by 2070.The government is expecting lower yields on green bonds.