India announces issuance calendar for green bonds — Rs 16,000 crore to be raised in 2 tranches

As announced in the Union Budget 2022-23, the government has announced issuance calendar for Sovereign Green Bonds (SGrBs) in order to mobilize resources for green infrastructure. It is expected to raise Rs 16,000 crore in two tranches, a press release issued by PIB said. The proceeds will be deployed in public sector projects which help in reducing the carbon intensity of the economy, it said.

"It was notified in the half-yearly issuance calendar for marketable dated securities for the second half of the fiscal year 2022-23 on September 29, 2022 that SGrBs for an aggregate amount of Rs 16,000 crore would be issued. Government of India has since issued the Sovereign Green Bond Framework on November 09, 2022," it said.

The Government of India, in consultation with the Reserve Bank of India (RBI), has decided to notify the indicative calendar for issuance of SGrBs for the fiscal year 2022-23. The issuance calendar is as under: