Green Bonds Driving Sustainable Transition in Asian Economies: The Case of India

Title

Green Bonds Driving Sustainable Transition in Asian Economies: The Case of India

Creator

PRAKASH N.; SETHI M.

Description

On September 25, 2015, 193 countries of the United Nations (UN) General Assembly, signed the 2030 Agenda to work towards attaining 17 Sustainable Development Goals (SDGs) and its associated 169 targets and 232 indicators. With one of the largest renewable energy programs, India is well-poised to be a role model for low-carbon transformation to other Asian countries. However, bridging the financing gap is critical to ensure that the country meets its SDG targets. Though the SDGs identified by the UN are broad-based and interdependent, for ease of analysis we have grouped them into five themes people, planet, prosperity, peace, and partnership based on existing UN models. This paper investigates the financing gap for green' projects linked to planet-related SDG targets in India. It builds an argument for utilizing green bonds as an instrument to bridge the gap. After establishing the potential of green bonds in raising the finance to meet India's planet-related SDG targets, we look at the current policy landscape and suggest recommendations for successful execution. The paper concludes that deepening of the corporate fixed income securities market and firming up guidelines in line with India's climate action plans are inevitable before green bonds can be considered a viable financing option. 2021. This is an Open Access article distributed under the terms of the Creative Commons Attribution Non-Commercial License (https://creativecommons.org/licenses/by-nc/4.0/) which permits unrestricted non-commercial use, distribution, and reproduction in any medium, provided the original work is properly cited. All rights reserved.

Source

Journal of Asian Finance, Economics and Business, Vol-8, No. 1, pp. 723-732.

Date

2021-01-01

Publisher

Korea Distribution Science Association (KODISA)

Subject

Climate Finance; Environmental Finance; Green Bond; Green Financing; Sustainable Development Goals (SDGs)

Coverage

PRAKASH N., Research Scholar, Department of Management, Symbiosis International University, India, Christ (Deemed to be University), India, Christ (Deemed to be University), Hosur Road, Bhavani Nagar, S.G. Palya, Bangalore, 560029, India; SETHI M., Symbiosis Institute of Business Management, Bangalore, India

Rights

Restricted Access

Relation

ISSN: 22884637

Format

Online

Language

English

Type

Article

Identifier

https://doi.org/10.13106/jafeb.2021.vol8.no1.723

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