The global green bond market is witnessing an exponential growth and has crossed the milestone of 2 trillion USD in terms of cumulative green bond issuance.

On the listing event held at Kushabhau Thakre convention centre at Bhopal, Shri Shivraj Singh Chouhan, Chief Minister, Madhya Pradesh said “Indore is the city which thinks outside the box and does outside the box. For e.g the listing of green bond on the exchange .Our Prime Minister has announced a program under the name “Panchamrut”. The intention to increase the non-fossil energy to 500 GW by 2030, but also at the same time to ensure that 50 per cent of the energy requirement comes from renewable energy and India is to achieve the target by 2070. Electric buses have been introducing in the city and have also installed 26 charging stations. The municipal corporation has planted atleast 2 lakh sapplings at Nehru Park, Meghdoot Garden, airport and regional parks to improve the air quality of Indore and as a result we have registered 4 lacs carbon credit and have generated a revenue of Rs 9 crore under a business model. A power plant has been installed at Jalud where they will produce electricity and bring down their electiricity bill for the people of Indore. On the occasion of Solar day which falls on May 3rd, Sanchi will become the country’s first solar city which is world-famous for stupas and Buddhist pilgrimage sites”.

­­­­Indore’s Mayor Shri Pushyamitra Bhargava said “It is Shri Shivraj’s vision to make Indore the world’s leading smart city. As a result, Indore was able to list India’s first green bond, which will enable Indore to reduce carbon emissions with the aid of a solar plant. The issue garnered Rs 721 Crore, which is just the beginning and thanks to Shri Shivrajji’s long-term thinking and dedication and Indore will continue to set a great example for India with new initiatives and will strive for prosperity”.

Shri Ashishkumar Chauhan, MD & CEO, NSE said : “The launch of Green Bond issue by Indore municipal corporation is a great example of cooperative federalism & depth of local governance model in India.Municipal bonds provide an alternative means of financing to urban local bodies and reduce the dependency on central and state grants.  Most of the urban infra bonds may be categorized as green bonds given that proceeds are predominantly targeted towards energy, transport, water management, sewage treatment, energy saving etc.  Green Municipal bonds will also bring in new foreign investors who specialize in sustainable financing and invest in projects with environmental, social and governance considerations.

India has also witnessed green bond issuances of about 10.8 billion USD during 2019-2022 by the corporates, PSUs and financial institutions.

NSE is committed to play an active and participatory role while contributing towards India’s vision of sustainable future enshrined under “Panchamrit” vision of our honorable Prime Minister”

The Lead Managers to the bonds issue were A.K. Capital Services Ltd and SBI Capital Markets Ltd.