Govt identifies Rs. 25,000 crore projects for Green Financing

The government has identified projects worth Rs 25,000 crore which are to be financed through proceeds from sovereign green bonds (SGBs) issued in the current financial year (FY) and the next FY as part of its green-funding initiative.

The projects identified for green financing are primarily in the renewable energy and clean transportation segments. For this, a green finance working panel is mandated to select the projects from the proposals submitted by various government departments.

The government had announced plans to raise Rs 16,000 crore through green bonds in two equal tranches in the current FY. The first tranche saw the first issuance of SGBs in India worth Rs 8,000 crore in January, 2023. More of such green projects are expected to be identified for funding in the later phase.