RBI to issue sovereign green bonds for mobilising resources for green infrastructure

The Government of India, as part of its overall market borrowings, will be issuing sovereign green bonds, for mobilising resources for green infrastructure, as announced in the Union Budget 2022-23.

The sovereign green bonds will be issued in two tranches of Rs 80 billion each on January 25, 2023 and February 9, 2023. Each tranche will include Rs 40 billion worth of 5-year sovereign green bonds and Rs 40 billion worth of 10-year sovereign green bonds. The proceeds will be deployed in public sector projects which will help in reducing the carbon intensity of the economy. Accordingly, it was notified in the half-yearly issuance calendar for marketable dated securities for the second half of the fiscal year 2022-23 on September 29, 2022 that sovereign green bonds for an aggregate amount of Rs 160 billion would be issued. The Government of India has since issued the Sovereign Green Bond Framework on November 9, 2022.