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Adani Group could find funding harder after US indictment as banks review credit
Gautam Adani's group faces funding issues. Banks may limit credit after a US arrest warrant. The warrant is for an alleged bribery case. Adani's companies lost value in the stock market. Investors are concerned. Some deals are cancelled. Indian authorities are investigating.
Donald Trump is the perfect tribal chief for ¡®palaeoliths¡¯ in MAGA tees¡¯n¡¯baseball caps
Donald Trump, despite being seen as highly unqualified to lead, has a chance of winning the upcoming US presidential election. His support is driven by fear of outsiders, conspiracy theories, and media manipulation. The Biden administration's economic and climate achievements are overshadowed by misinformation. Democracy requires continuous political engagement to prevent misinformed decisions.
With the worst behind, time to get re-rated? 5 stocks from the paper industry for investors with appetite for logical risk
Even in industries that have been in deep trouble for a long time, there are some players who survive. How do they do it? By changing the way they operate in terms of management ability, by adding new products, or some other way. The paper industry has been facing multiple challenges. Now, after years of consolidation which saw many players exit, there are a few left and they have achieved scale. The numbers are reflecting this. The question is: When will the street look at them more kindly? Yes, you will keep hearing about dumping by China, and rising pulp prices. These are operational issues which companies have learnt to deal with.
IFC partners with Axis Bank to provide $500 million climate loan in India
The International Finance Corporation is lending $500 million to Axis Bank to develop blue finance and green projects in India. This partnership aims to enhance water and energy efficiency and support climate-friendly investments in sectors like wastewater management and green buildings. Axis Bank targets significant growth in its climate and sustainable finance portfolio by 2030.
India will see sharp rise in living standards in coming decades: Nirmala Sitharaman
Finance minister Nirmala Sitharaman projects a significant rise in living standards for Indians in the coming decades, owing to a predominantly young population and a rising middle class. She emphasizes fiscal discipline, reforms, and the creation of robust supply chains amidst global geopolitical shifts.
Upcoming decades to be a 'defining era' for Indians to live in: FM
Finance minister Nirmala Sitharaman highlights India's rapid projected growth, predicting a significant rise in living standards within the next five years. With a youthful population driving productivity and consumption, the financial system is strengthening to support economic expansion, while fiscal discipline and strategic reforms ensure sustainable development.
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REC raises $500 million via green bond
State-owned REC Ltd has raised USD 500 million through green dollar bonds to support renewable energy projects. The 5-year bonds have a coupon rate of 4.75% per annum and will mature on September 27, 2029. This marks the first US dollar bond issuance by an Indian public sector enterprise in 2024.
NRIs can now invest in Sovereign Green Bonds this new way; Know how the impact on taxation of gains
NRI SGrB: Non-resident Indians can now invest in Sovereign Green Bonds (SGrBs) through the International Financial Services Centre (IFSC) which is located in Gandhinagar, Gujarat. If you are an NRI, you might wander whether you should invest in SGrBs or Green Fixed Deposits or normal Indian government bonds (G-Sec). Read here to know more.
ESG-compliant risk assessment in focus for HDFC Bank
HDFC Bank has implemented ESG-based risk assessment for wholesale banking loans to promote sustainable finance. Loans exceeding Rs 100 crore undergo detailed environmental and social assessments. The bank aims to increase income for marginal farmers and become climate-neutral by 2032, while also raising green deposits aligned with RBI guidelines.
Sovereign green bonds trading at IFSC to commence in 2nd half of this fiscal: RBI Guv
Reserve Bank Governor Shaktikanta Das revealed plans to begin trading sovereign green bonds at Gujarat's International Financial Services Centre in the latter part of the fiscal year. Despite the tepid response to bond issuance, Das emphasized ongoing discussions to boost green sector financing. Finance Minister Nirmala Sitharaman announced developing a climate taxonomy in her Budget speech.
Govt to review design of dams vulnerable to glacial lake outburst floods
The Indian government decided to review dams vulnerable to Glacial Lake Outburst Floods (GLOFs) to improve spillway capacity. The Central Water Commission monitors 902 glacial lakes in the Himalayas. New dams in glacial regions must undergo GLOF studies, highlighting efforts to mitigate risks and better prepare for potential disasters.
Sebi says MFs can value AT-1 bonds on yield to call basis
India's markets regulator on Monday said that perpetual bonds will be valued by mutual funds based on the call option on these securities, a move that will make it easier for lenders to raise funds through this route.
A different way to tackle scope 3 emissions
The Science Based Targets initiative (SBTi) proposed new metrics for dealing with Scope 3 emissions, which constitute over 70% of a company's carbon footprint.
More tax-saving options in Budget 2024: Why the budget should reintroduce tax-saving infrastructure bonds
By reintroducing infra bonds with tax benefits in Budget 2024, the government can ensure that municipalities receive money for much-needed infrastructure development and that more money is in citizens' hands through tax savings.
Navigating climate risks: India's financial sector gears up for transparency with RBI's draft guidelines
The introduction of the disclosure framework is a laudable first step, signalling a concerted effort towards addressing climate risks and fostering climate action within the financial sector.
India Inc. leverages ESG push to gain a competitive edge and attract investments: Jatinder Cheema
India Inc. is embracing ESG principles following government initiatives for long-term sustainability. Advocate Jatinder Cheema highlights the need for companies to adapt to new reporting norms. The Indian government's focus on ESG aligns with global trends and promotes sustainable development. Climate policies impact business regulations, emphasizing the shift towards sustainability and renewable energy sources.
View: Indian banks know climate is their biggest threat
RBI¡¯s financial stability report warns of climate change risks despite declining loan defaults. Concerns exist over exposure to energy and construction sectors. A 2023 framework mandates climate strategies by March 2028. Regulatory delays persist, with a 2021 task force and low foreign interest in green bonds. Efforts to attract global investors continue. Public sector banks are particularly vulnerable.
2024 Budget: Transforming India's agriculture for climate resilience and food security
Budget: The 2024 budget presents a chance to sow the seeds of a transformed agricultural sector - resilient, sustainable, empowered. By embracing innovation, investing in the future and placing the farmer at the heart of the equation, India can cultivate a productive agricultural landscape that supports its people and the world's.
Funds circling India debt risk being tripped Up by red tape
China's tax exemptions on bond investments set a precedent for India's sovereign debt market, likely attracting more foreign investors. The hurdles faced by outsiders in accessing the market include lengthy documentation, tax treaty variances impacting returns, and the need for registration via custodian banks for trading in certain bonds.
What does a reduction in ticket size of corporate bonds to Rs 10,000 mean for retail investors
The key amendments introduced by Sebi are designed not only to lower the entry barriers for potential investors but also to enhance the overall efficiency and transparency of the bond market.
Major world economies seek to halt new private sector coal financing
OECD plan instructs financial institutions to stop funding coal projects. Calls for financing early closure of coal plants and supporting clean energy. Policy aims to set a standard for dealing with coal infrastructure.
Climate change: Cos need some big changes on compliances
World Environment Day holds significance for companies amidst climate change. India Inc's environmental compliance record shows room for improvement. Only 122 of the top 1,000 companies disclosed conducting EIAs in their FY23 reports sourced from Prime Database.
Continuum energy to raise $650 m via bonds
Continuum Green Energy, a renewable energy generator, plans to raise $650 million in bonds to refinance existing debt, with Deutsche Bank, HSBC, JPMorgan, and Standard Chartered Bank as arrangers.
Online bond platform companies set up industry body
The executive committee of the new body ¨C called the OBPP Association of India ¨C was formalized at a meeting on May 28 at the NSE¡¯s office in Mumbai, with more than 20 of the 27 licensed OBPPs in attendance, the association said in a statement.
Government gets Rs 2.11 lakh crore from RBI by way of dividend
The Reserve Bank of India (RBI) has transferred a record surplus of Rs 2.1 lakh crore to the central government for FY¡¯2023-24, exceeding expectations. This windfall, largely from interest income on overseas securities and income from LAF operations, strengthens the government's fiscal position and may lead to a reduction in borrowing. The surplus, determined by the Economic Capital Framework (ECF), represents 25.5% of RBI's total assets.
Rs 2.1 lakh crore: RBI¡¯s record dividend swells govt coffers
The benchmark bond yield retreated below 7% on expectations that New Delhi would now need to borrow less this fiscal year. ¡°The higher dividend is welcome, of course,¡± finance secretary TV Somanathan told ET. ¡°It exceeds our estimate by 0.2-0.3% of GDP.¡± In the interim budget, North Block had factored in receipts of Rs 1.05 lakh crore under dividends and profits.
Vedanta board to meet on September 21 to consider bond issue
Vedanta Resources has $1 billion 13.875% bonds due in January 2024, $1bn 6.125% bonds due in August 2024 and $1.2bn 8.95% bonds due in March 2025. At a bondholders meeting organized by Standard Chartered Bank and JP Morgan between September 11 and 15 at Singapore and Hongkong, it proposed extending the tenure of the bonds by three years, as reported by ET on September 12.
Set high sustainability standards to enable reporting with integrated thinking
On June 23, one of the most path-breaking events in the world of sustainability reporting took place - the International Financial Reporting Standards (IFRS) Foundation launched its first two sustainability reporting standards, IFRS S1 and S2. A two-day conference filled with presentations and joint updates from the International Accounting Standards Board (IASB) and International Sustainability Standards Board (ISSB), two wings of IFRS Foundation, followed.
Unlocking full potential of green bonds in India
The global market for sustainable finance has registered considerable growth since 2014 mainly led by the issuance of green bonds. As per the data published (Climate Bonds Initiative, November 2022), cumulative green bond issuances as on September 30, 2022, have surpassed US$ 2.0 trillion, which includes sovereign green bonds (SGrBs) issued by 26 sovereigns aggregating to US$ 230.9 billion. European nations are the major issuers of SGrBs with 5-year and 10-year tenors being the preferred tenors of issuance.
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