Budget 2022 Prioritises Green Growth, Takes 5 Key Steps to Ensure India Stays on Track
2 years, 10 months ago

Budget 2022 Prioritises Green Growth, Takes 5 Key Steps to Ensure India Stays on Track

News 18  

The government has not shied away from announcing its green plans to the world in the last one year. Third, sovereign green bonds were the other highlight of Budget 2022 which ensure Indian government will join a select group of countries that have issued such bonds. Gagan Sidhu, director at Council on Energy, Environment and Water, says, “The Budget proposal to issue sovereign green bonds has several benefits, principal among them is signalling the country’s seriousness in pursuing climate action. If sovereign green bonds price at lower yields versus their non-green counterparts, it will also provide an added signal for the private sector to direct their own capital towards green investments. Announcement of PLI scheme for domestic capacity building and green sovereign bonds, coupled with significant capital expenditure commitment puts the country on the right path for sustainable growth and development India has been one of the few nations to achieve the NCDs to fight climate change.

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India’s green ambitions: A key milestone crossed and yet miles to go
Trending News
1 day, 6 hours ago

India’s green ambitions: A key milestone crossed and yet miles to go

Live Mint  

New Delhi: In October, India reached an important milestone in its green energy ambitions: an installed renewable energy capacity of 203.18 GW. Green IPOs and nuclear energy India’s green energy sector is leading a shift in the economy, said Manoj Bansal, partner at Grant Thornton Bharat, adding that emerging areas like green hydrogen, energy storage, and carbon capture are attracting …

Centre may increase green bond target by 25% to ₹25,000-26,000 crore next year to fund renewable energy projects
1 week, 6 days ago

Centre may increase green bond target by 25% to ₹25,000-26,000 crore next year to fund renewable energy projects

Live Mint  

New Delhi: The government plans to raise ₹25,000-26,000 crore through sovereign green bonds in the next fiscal year, marking an at least 25% increase from its ₹20,000 crore target for FY25, to boost financing for climate-friendly projects, two people familiar with the matter told Mint. Investor interest The government issued sovereign green bonds of ₹20,000 crore in FY24 and planned …

NHAI to Issue Green Bonds Worth Rs.1,000 Cr to Fund Eco-Friendly Initiatives
2 weeks, 5 days ago

NHAI to Issue Green Bonds Worth Rs.1,000 Cr to Fund Eco-Friendly Initiatives

Deccan Chronicle  

New Delhi: Reiterating its commitment to promote environment sustainability and development of green highways, National Highways Authority of India’s fully owned Special Purpose Vehicle ‘DME Development Limited’ will issue green bonds to raise funds for the implementation of environment friendly measures on Delhi-Mumbai Expressway project. The first of its kind green bond issue in roads and highways sector is expected …

India to set up a carbon trading, green bond regulator
3 weeks, 2 days ago

India to set up a carbon trading, green bond regulator

Live Mint  

The Union government plans to set up an agency on the lines of National Agriculture Cooperative Marketing Federation of India to regulate carbon trading, two people said. Empowering government The amended Energy Conservation Act, 2022 empowers the Indian government to set up a domestic carbon market and to authorize designated agencies to issue carbon credit certificates. The Indian Carbon Market …

India aims to expand scope of ESG debt after surpassing 2021 issuance record
4 months ago

India aims to expand scope of ESG debt after surpassing 2021 issuance record

Hindustan Times  

India’s market regulator intends to expand the scope of its sustainable finance framework to include more products, a potential boost to ESG-labeled instruments in Asia. {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} The Securities and Exchange Board of India will consult on introducing social bonds, along with sustainable and sustainability-linked bonds, to the current suite of environmental, social and governance debt. {{^usCountry}} {{/usCountry}} …

Budget 2024: A blueprint for sustainable growth and employment
5 months ago

Budget 2024: A blueprint for sustainable growth and employment

The Hindu  

I would like to congratulate the Finance Minister for laying a well-defined road map for Viksit Bharat 2047 while continuing the focus on the immediate requirement. The support for the manufacturing sector, a package for employment generation, and the skilling and upskilling for 4.1 crore youth across sectors, are some of the key highlights of this budget. This, coupled with …

Economic Survey 2023-24: Balancing growth and green goals a tightrope walk for India
5 months ago

Economic Survey 2023-24: Balancing growth and green goals a tightrope walk for India

The Hindu  

India's path to sustainable development is fraught with challenges, as the country grapples with the twin imperatives of meeting burgeoning energy demands and reducing carbon emissions, the Economic Survey 2023-24 revealed on July 22. Tabled in the Parliament, the Survey underscores the complexities of India's green transition, emphasizing the need for a diversified energy portfolio to achieve ambitious growth targets …

Govt may issue sovereign green bonds in second half of FY25
10 months, 3 weeks ago

Govt may issue sovereign green bonds in second half of FY25

Live Mint  

New Delhi: The government is expected to issue sovereign green bonds during the second half of the next fiscal year, Ajay Seth, secretary in the department of economic affairs, said on Thursday. Although the interim budget, presented by finance minister Nirmala Sitharaman today, did not specifically mention green bonds, their issuance is expected in the third or fourth quarters of …

Budget 2024: Can India become a $7 trillion economy by 2030?
10 months, 3 weeks ago

Budget 2024: Can India become a $7 trillion economy by 2030?

India Today  

A recent review report released by the government has estimated India's potential economic trajectory, aiming to hit the $7 trillion mark by 2030, ahead of the upcoming Interim Budget 2024-25. "India's unwavering commitment to ensuring steady economic growth is generating resources for investment needed for climate change adaptation, building resilience, and mitigating emissions,' the Finance Ministry report said. The report …

European Investment Bank eyes green hydrogen to add to India renewables push
1 year ago

European Investment Bank eyes green hydrogen to add to India renewables push

Live Mint  

Even as solar and wind continue to be focus areas, the European Investment Bank is now keen to jump into green hydrogen in the country, but no concrete proposal has been tabled yet by Indian companies, a top executive at the development bank said. Earlier in 2023, the bank had stated its interest in supporting India’s National Green Hydrogen Mission …

Green Hydrogen: Empowering India’s Journey Towards Energy Independence And Net Zero Emissions
1 year, 4 months ago

Green Hydrogen: Empowering India’s Journey Towards Energy Independence And Net Zero Emissions

Live Law  

“Sustainable and inclusive development has become a prevailing global agenda over the past few decades, garnering significant attention and dedication from nations across the world.” World Bank, 2018 Sustainable and inclusive development has been the global goal for the past few decades. With its promising capabilities for revolutionizing various industrial working patterns and mitigating environmental challenges, green hydrogen is poised …

India making great efforts in green growth and energy transition: PM Modi
1 year, 5 months ago

India making great efforts in green growth and energy transition: PM Modi

The Hindu  

Prime Minister Narendra Modi on Saturday, July 22, 2023, said India is making great efforts in green growth and energy transition, and asserted that the country is moving ahead strongly on its climate commitments. Addressing via video link the G20 Energy Ministers' Meeting, which is currently underway in Goa, Mr. Modi also said that India has shown leadership in climate …

NLC India plans ₹24,000 crore solar investment by 2030: CMD
1 year, 5 months ago

NLC India plans ₹24,000 crore solar investment by 2030: CMD

Live Mint  

New Delhi: State-run NLC India Ltd plans to set up a step-down subsidiary to operate its new-age renewable energy businesses, including battery storage. In an interview, Prasanna Kumar Motupalli, chairman and managing director of the company, said that after the recent incorporation of its green energy arm, NLC India Renewables Ltd, the company is exploring the option of setting up …

India will play an important role in green energy: PM Modi
1 year, 10 months ago

India will play an important role in green energy: PM Modi

Deccan Chronicle  

NEW DELHI: Inviting global investment in the green energy sector, Prime Minister Narendra Modi on Thursday said that India's potential in solar, wind and biogas is no less than a goldmine or an oil field. The Prime Minister informed the audience that India achieved the target of 40 per cent contributions from non-fossil fuels in the installed electricity capacity nine …

Union Budget 2023-24 puts India on the path to food and energy security
1 year, 10 months ago

Union Budget 2023-24 puts India on the path to food and energy security

Firstpost  

By extending Centre’s 50-year low-cost capital support by another year, states can clean up their balance sheet for future financing As G20 President, India has set the tone by committing leadership to transition to the green economy. Green hydrogen will become a trillion Dollar Industry in India by 2030, therefore delivering energy security and making India the new prosperous Middle-East …

Budget and green growth: significant focus on government investment
1 year, 10 months ago

Budget and green growth: significant focus on government investment

The Hindu  

Arindam Guha As part of its 2022 Nationally Determined Contribution goals, India has committed to a number of ambitious objectives such as reducing GDP emissions intensity by 45% from 2005 levels by 2030, increasing its renewables capacity to 500 GW by 2030 and achieving net zero status by 2070. Some of the key initiatives for achieving these goals are around …

Next sale of sovereign green bonds likely by September
1 year, 10 months ago

Next sale of sovereign green bonds likely by September

Live Mint  

India may sell sovereign green bonds for the second year starting 1 April to fund investments in solar, wind and hydro and other projects that mitigate the impact of carbon emissions. The government plans to sell ₹15,000-16,000 crore of the green bonds in the second half of the next fiscal to fund public sector projects, two people familiar with the …

India’s growing energy demand offers investment opportunities: PM
1 year, 10 months ago

India’s growing energy demand offers investment opportunities: PM

The Hindu  

India’s energy demand has significantly increased and in the coming years, it will reach 11% of the global demand as compared to 5% currently, said Prime Minister Narendra Modi while inaugurating India Energy Week 2023 in Bengaluru on Monday. Also, the country has a chunky class of aspirational population and energy would play an important role in fulfilling the aspirations …

Policy and regulatory focus on transition to support sustainable bond issuance in Asean in 2023: Moody’s
1 year, 10 months ago

Policy and regulatory focus on transition to support sustainable bond issuance in Asean in 2023: Moody’s

Live Mint  

Policy and regulatory focus on green and transition finance will drive recovery in Asia-Pacific sustainable bond volumes in 2023, despite difficult market conditions, said Moody’s Investor Service. Scaling green and transition finance via sustainable instruments, including bonds and loans from the public sector, will further gain momentum as reporting standards and taxonomies improve, said the ratings agency in a report. …

India’s growing energy demand offers investment opportunities: PM Modi
1 year, 10 months ago

India’s growing energy demand offers investment opportunities: PM Modi

The Hindu  

India’s energy demand has significantly increased and in the coming years, it will reach 11% of the global demand as compared to 5% currently, said Prime Minister Narendra Modi while inaugurating India Energy Week 2023 in Bengaluru on Monday. Also, the country has a chunky class of aspirational population and energy would play an important role in fulfilling the aspirations …

Budget 2023-24 puts India on the path to food and energy security
1 year, 10 months ago

Budget 2023-24 puts India on the path to food and energy security

Firstpost  

By extending Centre’s 50-year low-cost capital support by another year, states can clean up their balance sheet for future financing As G20 President, India has set the tone by committing leadership to transition to the green economy. Green hydrogen will become a trillion Dollar Industry in India by 2030, therefore delivering energy security and making India the new prosperous Middle-East …

Going green: The Hindu Editorial on Budget 2023’s and India’s net-zero commitment
1 year, 10 months ago

Going green: The Hindu Editorial on Budget 2023’s and India’s net-zero commitment

The Hindu  

Finance Minister Nirmala Sitharaman’s latest Budget is noteworthy for the emphasis she has laid on the government’s commitment to move towards net-zero carbon emission by 2070. As an article presented at the World Economic Forum’s Annual Meeting in Davos last month notes, India holds the key to hitting global climate change targets given its sizeable and growing energy needs. Energy …

Budget 2023: Focus on infra and increased capex to give impetus to demand for zinc
1 year, 10 months ago

Budget 2023: Focus on infra and increased capex to give impetus to demand for zinc

Firstpost  

The Budget 2023 brings hope of green growth reflecting resilience and a high probability of emerging as a $5 trillion economy while keeping net zero and Sustainable Development Goals commitment at the core. Opportunity to go ‘fully green’ The Budget offers an opportunity to fully ‘go green’ by incentivising green products, driving responsible consumption, raising resources, and deploying them effectively …

Budget 2023 | Industry hails Budget’s green energy, infrastructure push
1 year, 10 months ago

Budget 2023 | Industry hails Budget’s green energy, infrastructure push

The Hindu  

The attention and allocation to building a green infrastructure and a decarbonised energy regime is the core of the Union Budget which puts india on the path of being future proof, said Prashant Ruia, Director, Essar Capital. “In times of unprecedented volatility and uncertainty, the Government has maintained a consistent stance across five definitive themes – follow a path to …

India’s finance minister announces new clean energy funds
1 year, 10 months ago

India’s finance minister announces new clean energy funds

Associated Press  

BENGALURU, India — Indian finance minister Nirmala Sitharaman announced several new clean energy initiatives in the government’s annual federal budget speech on Wednesday, saying “green growth” is a top priority for the country. The new funds form part of the government’s $550 billion budget aimed at ramping up spending to spur economic growth and create jobs ahead of the general …

Budget 2023 | Major thrust planned for green energy
1 year, 10 months ago

Budget 2023 | Major thrust planned for green energy

The Hindu  

Underlining a commitment to accelerate the Indian economy’s transition to one powered by green energy, Union Finance Minister Nirmala Sitharaman in her Budget speech on Wednesday mentioned a slew of schemes aimed at promoting clean energy and sustainable living. Green energy was among the ‘Saptarishi’ or seven guiding lights Ms. Sitharaman mentioned in her address that would steer India through …

Govt allocate ₹35,000 crore for energy transition, achieve net-zero by 2070
1 year, 10 months ago

Govt allocate ₹35,000 crore for energy transition, achieve net-zero by 2070

Live Mint  

The issue of climate change is slowly coming into mainstream policies of the government. Union Finance Minister Nirmala Sitharaman on Wednesday announced the allocation of ₹35,000 crore in the Union Budget 2023 as a priority capital investment toward energy transition. “Green Growth” is a separate category in this year's budget that talks about India's vision for energy transition and sustainable …

Net Zero by 2070: In Big Push for Green Growth, India Sets Aside Rs 35,000 Cr for Energy Transition in Budget
1 year, 10 months ago

Net Zero by 2070: In Big Push for Green Growth, India Sets Aside Rs 35,000 Cr for Energy Transition in Budget

News 18  

As the race to Net Zero gathers pace, India on Wednesday announced that it has set aside priority capital investment of Rs 35,000 crore towards energy transition as well as energy security. Reiterating the government’s commitment to climate action, Finance Minister Nirmala Sitharaman listed ‘Green Growth’ as one of the seven big priorities along with infrastructure and investment, financial sector, …

Budget 2023 | What are the Centre’s initiatives for ‘Green Growth’ and energy transition?
1 year, 10 months ago

Budget 2023 | What are the Centre’s initiatives for ‘Green Growth’ and energy transition?

The Hindu  

In the bid to reduce the carbon intensity of the Indian economy, meet clean energy targets, and provide large-scale green job opportunities, Finance Minister Nirmala Sitharaman announced a slew of measures for “Green Growth” while presenting the Union Budget on Wednesday, including initiatives related to green fuel, green farming, green mobility, green buildings, and green equipment. The Minister listed “Green …

Budget 2023 | India has made significant progress in many SDGs: Finance Minister
1 year, 10 months ago

Budget 2023 | India has made significant progress in many SDGs: Finance Minister

The Hindu  

India has made significant progress in many Sustainable Development Goals and the per capita income has increased to ₹1.97 lahks, Finance Minister Nirmala Sitharaman said on February 1. According to the Center for Science and Environment’s 'State of India’s Environment Report 2022', the country's overall SDG score was 66 out of 100. The 2030 Agenda for Sustainable Development, with its …

Global finance critical to India's climate actions, says chief economic adviser
1 year, 10 months ago

Global finance critical to India's climate actions, says chief economic adviser

Hindustan Times  

India will stick to its global commitments on containing the climate crisis, seen most notably in its ambitious targets on clean energy transition to reduce its dependence on burning fossil fuels, according to Economic Survey 2022-23 tabled in Parliament on Tuesday. “Hence, India currently spearheads one of the most robust climate actions through its Nationally Determined Contributions, which includes an …

Economic Survey 2022-23 | India needs global finance to achieve climate goals
1 year, 10 months ago

Economic Survey 2022-23 | India needs global finance to achieve climate goals

The Hindu  

For India to meet its international “obligations” on curtailing greenhouse gas emissions, it must have access to “on-time” climate finance, technology, and access to critical minerals. Advanced economies ought to set examples of policy and “behavioural changes” that work in their countries and only then could they be emulated in developing countries, the Economic Survey said on Tuesday in a …

Sovereign green bonds: Know the risks and rewards
1 year, 10 months ago

Sovereign green bonds: Know the risks and rewards

Live Mint  

The Reserve Bank of India recently auctioned its maiden sovereign green bonds worth ₹8,000 crore. These comprised sovereign green bonds 2028 and sovereign green bonds 2033 with a cut-off yield of 7.10% and 7.29%, respectively, a few basis points lower than the G-sec of the same tenure. Those who are interested in knowing how the funds are invested, note that …

India to enter green bond market with $1 billion debut auction on Wednesday
1 year, 11 months ago

India to enter green bond market with $1 billion debut auction on Wednesday

Business Standard  

India to enter green bond market with $1 billion debut auction on Wednesday If this sovereign auction is over-subscribed and the cutoff yield materially lower than regular government bonds, it would encourage larger green issuance next year Premium This offering will be sold in 5-year and 10-year tenors via a uniform price auction on Jan. 25; a second, similar offering …

Budget 2023-24 Expectation: Seven-point recommendation to achieve energy independence for India by 2050
1 year, 11 months ago

Budget 2023-24 Expectation: Seven-point recommendation to achieve energy independence for India by 2050

Firstpost  

Indigenous Green Hydrogen production can be a game changer during India’s existing Amrut-Kaal, as this would catapult the Indian economy into the $5 trillion club Today the world is volatile and uncertain. On this note, we are glad that the Indian government under the leadership of Prime Minister Narendra Modi has announced several forward-looking legislative reforms and policies to achieve …

Govt bond market likely to see an explosion of new products in FY24
1 year, 11 months ago

Govt bond market likely to see an explosion of new products in FY24

Business Standard  

Govt bond market likely to see an explosion of new products in FY24 All the state governments now have a significant presence in the bond market, having sharply lowered their dependence on the Centre for borrowing ever since Covid struck Premium The volumes are expected to rise soon in FY24, from the Rs 16,000 crore earmarked to be raised from …

Decarbonisation in India gets a big boost
1 year, 11 months ago

Decarbonisation in India gets a big boost

Hindustan Times  

India’s decarbonisation journey received a boost last week when the Cabinet approved the National Green Hydrogen Mission with an allocation of ₹19,744 crore. It aims to produce five million tonnes of green hydrogen annually by 2030, reduce emissions by nearly 50 million tonnes annually, save India ₹1 trillion in fossil fuel imports, attract investments worth ₹8 trillion by 2030, and …

Does India really need to issue sovereign green bonds?
2 years, 1 month ago

Does India really need to issue sovereign green bonds?

Live Mint  

Sovereign green bonds are the next big thing on the agenda that was unveiled as part of this year’s Union budget announcements. Arguably, the same goal can be achieved even without calling it a ‘sovereign green bond’ by just allocating resources for green projects with the same outlay. Hence, before the launch of green bonds, the Centre would need to …

The test for India’s sovereign green bonds
2 years, 1 month ago

The test for India’s sovereign green bonds

Live Mint  

The Indian government is all set to debut in the green bonds market soon, as laid out in the Union Budget earlier this year. Corporates have been issuing green bonds in India for a few years in a growing market, but the country’s global share stood at just 1% in the first half of 2022. Big corporations such as Adani …

India’s energy future is looking green, report says
2 years, 2 months ago

India’s energy future is looking green, report says

Associated Press  

BENGALURU, India — India’s renewables sector is booming, with the country projected to add 35 to 40 gigawatts of renewable energy annually until 2030, enough to power up to 30 million more homes each year, a report said Thursday. The Institute for Energy Economics and Financial Analysis and Climate Energy Finance estimated that India, the third largest energy-consuming country in …

India's annual green finance is one-fourth of its needs, finds study by US based organisation
2 years, 4 months ago

India's annual green finance is one-fourth of its needs, finds study by US based organisation

Firstpost  

According to the report, India will need about Rs 162.5 lakh crore, or roughly Rs 11 lakh crore per year, from 2015 to 2030 to meet its Nationally Determined Contributions under the Paris Agreement New Delhi: Climate Policy Initiative in its report titled ‘Landscape of Green Finance in India’ has released an update on India’s “first-ever effort” to track green …

New Energy Bill Promotes Green Hydrogen, Incentivises Use of Clean Technology - News18
2 years, 5 months ago

New Energy Bill Promotes Green Hydrogen, Incentivises Use of Clean Technology - News18

News 18  

Parliament is the temple of democracy and parliamentary procedures the rites by which the will of the people is translated into practice. The ongoing Monsoon Session of Parliament will see the tabling of 24 bills including the Energy Conservation Bill, 2022, which stresses promoting clean energy and use of clean hydrogen. The ministry of power had last year proposed changes …

Harness the power of green hydrogen
2 years, 5 months ago

Harness the power of green hydrogen

Hindustan Times  

If India wants to mitigate the climate crisis, meet its international climate commitments, reduce its fuel import bill, strengthen its renewable energy sector and unlock green jobs, the nation must accelerate its efforts to decarbonise the economy. A critical cornerstone of this strategy will be the use of green hydrogen in key energy-intensive sectors such as fertilisers, refining, shipping, iron …

What India needs to achieve net-zero emission goals by 2020. Read here
2 years, 6 months ago

What India needs to achieve net-zero emission goals by 2020. Read here

Live Mint  

India may need investments of over USD 10 trillion to meet its net-zero emission target by 2070, according to a new report. “Thus, the country needs to focus on and incentivise cleaner coal technology to further reduce carbon emissions.” The report further recommended policy initiatives "essential for a future driven by sustainable industries." To achieve the target, India must overcome …

A squeeze on climate goals
2 years, 6 months ago

A squeeze on climate goals

Hindustan Times  

At the United Nations climate summit in Glasgow in November 2021, member countries reaffirmed the Paris Agreement’s goal of limiting the increase in the global average temperature to well below 2°C above pre-industrial levels and pursuing efforts to limit it to 1.5 °C. This, says an International Energy Agency report, could impact the profitability of the renewable energy industry and …

TMS, Ep 100: Cryptocurrency tax, defence industry, markets, and green bonds
2 years, 10 months ago

TMS, Ep 100: Cryptocurrency tax, defence industry, markets, and green bonds

Business Standard  

One of the highlights of Union Budget 2022-23 was the proposal to levy a steep 30% tax on gains made from digital assets, beginning April 1. The budget also proposed a 1% TDS on payments towards virtual currencies beyond Rs 10,000 in a year. *** Notwithstanding the prickly ties with China, the government gave a modest 4.43% hike to its …

Budget 2022: Green bonds explained
2 years, 10 months ago

Budget 2022: Green bonds explained

Live Mint  

During the Budget speech on Tuesday, Union Finance Minister Nirmala Sitharaman announced that as a part of the overall market borrowings in 2022-23, the government will issue sovereign green bonds also. In fact, the World Bank is also one of the major issuers of green bonds as it has issued 164 such bonds amounting to a total of $14.4 billion …

Budget 2022-23 focusses on climate change, talks of transition to 'carbon neutral' economy | Details
2 years, 10 months ago

Budget 2022-23 focusses on climate change, talks of transition to 'carbon neutral' economy | Details

India TV News  

Highlights In the Union Budget, Rs. Union Finance Minister Nirmala Sitharaman on Tuesday presented the Union Budget 2022-23 wherein she announced that Rs. She stressed that Public investment must continue to take the lead and pump the private investment and demand in 2022-23 and therefore the outlay for capital expenditure in the Union Budget is being stepped up sharply by …

More infrastructure, more investment, more growth, more jobs: PM Modi on Budget 2022
2 years, 10 months ago

More infrastructure, more investment, more growth, more jobs: PM Modi on Budget 2022

India TV News  

Highlights PM Modi said that Budget 2022 brings in new hopes and opportunities for the people Full of more infrastructure, more investment, more growth and more jobs, PM said on Budget Prime Minister informed that he will speak in detail on Budget at 11 am on Wednesday Prime Minister Narendra Modi on Tuesday said that Budget 2022 brings in new …

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