CURRENT AFFAIRS

Detailed explanation-1: -SBI has adopted the green bond framework with the objective of creating a positive impact on the environment & this transaction is considered as part of the sustainability journey.

Detailed explanation-2: -The World Bank Green Bonds is an example of the kind of innovation the World Bank is trying to encourage within this framework. The World Bank Green Bond raises funds from fixed income investors to support World Bank lending for eligible projects that seek to mitigate climate change or help affected people adapt to it.

Detailed explanation-3: -Shri Manoj Kumar, Executive Director, IFSCA said “Today’s dual listing of SBI bonds is an important step for IFSC in demonstrating regulatory convergence with the leading international markets of Luxembourg, which has the largest green bond listings in the world.

Detailed explanation-4: -Green bonds are bonds issued by any sovereign entity, inter-governmental groups or alliances and corporates with the aim that the proceeds of the bonds are utilised for projects classified as environmentally sustainable. The framework for the sovereign green bond was issued by the government on November 9, 2022.

Detailed explanation-5: -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.