G20 Summit under One of the most notable achievements at the July India's presidency was a pledge in the Leaders' Declaration to triple 2030. Expanding the renewable global renewable energy capacity by capacity to an estimated 11,000 GW requires trillions of dollars in annual investments. The bond market given its sheer size of $130 trillion-is ideal for sourcing financing Not surprisingly, green this magnitude. Of bonds, which ringfence the bond proceeds for environmental projects, far, are flourishing. Over $2.5 trillion of green bonds have been issued so sharp increase from under $100 billion that had been issued by 2015.  Indian companies have tapped into the growing market, with the first green bond sale by Yes Bank in 2015. India issued its first pair of sovereign green bonds in January of this year. The bond sale was preceded by the release of a Green Bond Framework in November 2022 and followed by the release of the 2023-24 annual initiatives budget. The budget detailed investments in several green -including decarbonizing electricity generation, carbon-intensive industries, and railways, among others using green bonds to finance them. Read More