Green bond issue size for H2 to be finalised soon
Ahead of the announcement of the borrowing calendar for the second half of the current financial year, the green finance working committee, headed by chief economic adviser V Anantha Nageswaran, will soon finalise the size of the sovereign green bond issuance against the Budget estimate of Rs 23,765 crore.For the first time, the Centre mobilised Rs 16,000 crore through two tranches of green bonds in January-February of the previous financial year. However, the actual utilisation of green project financing was Rs 18,377 crore in FY23, Rs 2,377 crore more than funds mobilised through these papers.
As against the FY23 revised Budget estimate of Rs 17,168-crore sovereign green bond issuances, the estimate for FY24 is Rs 23,765 crore.“The committee, headed by the chief economic adviser, has asked ministries to project their requirement in the current financial year and plans for the next financial year,” an official said. After the details are collected, the finance ministry will announce the actual green bond issuance size during the release of the H2FY24 borrowing calendar by the end of September. There was no green bond issuance in H1FY24.