CURRENT AFFAIRS

Detailed explanation-1: -Axis Bank has launched India’s first internationally-listed certified green bond to finance climate change solutions around the world at London Stock Exchange (LSE). The proceeds of the bond will be invested by Axis Bank in green energy, transportation and infrastructure projects.

Detailed explanation-2: -Green Bonds Market in India In order to increase long-term resources for financing infrastructure projects in the renewable and clean energy industries, Yes Bank issued India’s first green bond in 2015 to raise INR 5 billion.

Detailed explanation-3: -Finance Minister Nirmala Sitharaman announced the plan to issue sovereign green bonds in the 2022-23 budget as Asia’s third-largest economy attempts to tap the domestic debt market to finance green infrastructure projects.

Detailed explanation-4: -Indeed, it has been a historical journey of State Bank of India in the UK, which started in January 1921 when the London Branch of Imperial Bank of India was opened to provide banking services to the Indian diaspora, British society, corporates, and small businesses alike.

Detailed explanation-5: -In 2008, the World Bank issued its first green bond in response to such increasing demand. Since the issuance of the first green bond, the market’s grown considerably, as shown below.