CURRENT AFFAIRS

Detailed explanation-1: -Mumbai, November 22nd, 2021: Commemorating the occasion of World Investor Week, SBI has today dual listed USD 650 Million green bonds simultaneously on India International Exchange (India INX) and Luxembourg Stock Exchange.

Detailed explanation-2: -State Bank of India listed its USD 650-million green bonds simultaneously on the India International Exchange and the Luxembourg Stock Exchange.

Detailed explanation-3: -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-4: -SBI has also issued green bonds worth $800 million since 2018-19 and a green loan worth €50 million in 2020-21. This has helped finance wind and solar energy projects with a total capacity of more than 3, 500 megawatt.

Detailed explanation-5: -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.