Financing for Harnessing Green Power

As of 24^th December, 2020, eight ESG mutual funds (funds whose asset allocation mostly includes shares and bonds of companies that are evaluated based on the factors of Environmental, Social and Governance) were launched in India.

The UK in partnership with Italy will host the 26^th UN Climate Change Conference of the Parties (COP26) in Glasgow from 31^st October – 12^th November 2021.

So, this is the right time to assess our preparation, planning and progress. In short, that is evident from a recent IEEFA research report that states, “Green Bonds have become a key financial instrument for mobilising cost-effective foreign debt capital into the Indian renewables market.

Since 2016 Indian corporates and financial institutions have raised around US$14.43bn through Green Bonds as per BNEF data. In 2021 to-date, Indian companies have attracted US$4bn in Green Bonds, already beating the previous record of US$3.43bn in cumulative Green Bond issuance in 2017.”