pratiyogita darpan english Published this article page no 81 The World Bank is a major issuer of green bonds. It has issued 164 such bonds since 2008 worth a combined $14.4 billion. In 2020 the total issuance of green bonds was worth almost $270 billion according to the Climate Bond Initiative. How Does a Green Bond Work? Green bonds work just like any other corporate or government bond. Borrowers issue these securities in order to secure financing for projects that will have a positive environmental impact such as ecosystem restoration or reducing pollution. Investors who purchase these bonds can expect to make as the bond matures. In addition there are often tax benefits for investing in green bonds. What is the Significance of Sovereign Guarantee to Green Bonds? Sovereign green issuance sends a powerful signal of intent around climate action and sustainable development to governments and regulators. It will catalyze domestic market development and provides impetus to institutional investors. It will provide benchmark pricing liquidity and a demonstration effect for local issuers helping to support the growth of a local market. Green Bonds Vs Blue Bonds Blue bonds are sustainability bonds to finance projects that protect the ocean and related ecosystems. This can include projects to support sustainable fisheries protection of coral reefs and other fragile ecosystems or reducing pollution and acidification. All blue bonds are green bonds but not all green bonds are blue bonds. Green Bonds Vs Climate Bonds Green bonds and climate bonds are sometimes used interchangeably but some authorities use the latter term specifically for projects focusing on reducing carbon emissions or alleviating the effects of climate change. Yes Bank was the first Indian Bank to issue Green Infrastructure Bonds (GIBs) in India. It had issued Indias firstever GIBs worth 1000 crore rupees in 2015. The Centre released Indias Arctic Policy with the aim of enhancing the countrys cooperation with the resourcerich and rapidly transforming region. Need for such a Policy The relevance of Arctic for India can be broadly explained under three categories (A)Scientific Research Climate Change and Environment Monsoons The changes occurring in the Arctic are yet to be understood fully but it is clear that they have been impacting global weather climate and ecosystems including the monsoons in India. 158 During the monsoons India receives over 70 per cent of its annual precipitation. Indias agriculture which is the primary source of livelihood for about 58 per cent of Indias population and contributes around 20 per cent to the GDP4 is directly dependent on monsoons pratiyogita darpan English buy.
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