Indore becomes first civic body to launch green bonds

Indore becomes first civic body to launch green bonds

Daily Current Affairs   /   Indore becomes first civic body to launch green bonds

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Category : National Published on: February 10 2023

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  • Indore Municipal Corporation, ranked top in cleanliness survey for six consecutive years, has become the country’s first civic body to launch green bonds, seeking to raise Rs 244 crore for a 60-mw solar plant at its water pumping station.
  • This amount will be used to set up a 60 MW solar plant at Juladh Pumping Station in Hum Samraj and Ashukhedi villages on the banks of river Narmada falling in Khargone district with an investment of about Rs 305 crore.
  • This bond of Indore Municipal Corporation will open between 10-14 February 2023. And later it will be listed on the National Stock Exchange.
  • Green bonds are debt securities issued by organizations to finance or refinance projects that have a positive impact on the environment and climate. They are also known as climate bonds.
  • Green bonds were first announced by Union Finance Minister Nirmala Sitharaman while presenting the budget for the financial year 2022-23.
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