ECONOMY & POLICY

"Reducing Carbon Footprint: Strategies for Environmental Sustainability"

Somewhere in 2006, Swedish pension funds concerned with global warming and environmental degradation were looking to diversify their portfolio to include investments in environment-friendly projects that would not carry additional risk. They could not find any such instruments. This led t...

Somewhere in 2006, Swedish pension funds concerned with global warming and environmental degradation were looking to diversify their portfolio to include investments in environment-friendly projects that would not carry additional risk. They could not find any such instruments. This led them to explore the possibility of creating an instrument like a regular investment product in terms of yield, security, risk and maturity, while addressing concerns related to the environment. After many discussions with stakeholders, the draft of an instrument was prepared. With this, investors approached the World Bank within a month of deliberations, the Bank accepted the concept and worked out the details and the first ‘green bond’ was born in 2008. This bond created the blueprint for today’s green bond in terms of the criteria to be followed to be classified as one. While drafting the product, financial and environmental teams interacted, understanding and addressing their respective concerns, to ensure that the bond meets the objective with which it was designed. This included criteria like opinion from recognised climate research institutions, transparency and impact reporting. This bond established that it is possible to raise funds at competitive rates for environmentally sustainable projects and that there is a large pool of investors willing to invest in such bonds. What are green bonds? Green bonds are fixed-income instruments funding projects related to the climate and environment. However, deciding what should count within that definition can be difficult. The Climate Bonds Initiative (CBI), International Capital Market Association (ICMA), European Union and Chinese government have developed guidelines to define green bonds. Broadly, green bonds finance projects aimed at energy efficiency, pollution prevention, sustainable agriculture, fishery and forestry, the protection of aquatic and terrestrial ecosystems, clean transportation, clean water and sustainable water management.

Next Story
Infrastructure Transport

Unified railway app for tickets and tracking launching in December

The Indian Railways is expected to launch a super app consolidating passenger services by the end of December, according to officials familiar with the project. The app, which is being developed by the Centre for Railway Information Systems (CRIS), will integrate with the Indian Railway Catering and Tourism Corporation (IRCTC), these officials stated. IRCTC would continue to serve as the interface between CRIS and passengers purchasing train tickets, and that integration between the super app and IRCTC is currently underway. The app will provide a wide range of services, including booking p..

Next Story
Infrastructure Urban

TN drives distributed growth vision with multiple new projects

Tamil Nadu is advancing on its plan to achieve comprehensive growth, launching numerous projects across business sectors with a focus on tier-2 and tier-3 cities. Soon after taking office in May 2021, Chief Minister M.K. Stalin emphasised his government’s commitment to developing both metro and smaller cities to drive industrial growth across the state. The industries department highlighted its focus on creating high-quality, well-paying jobs across Tamil Nadu by establishing various manufacturing facilities, including automobile plants, mini TIDEL Parks, and State Industries Promotion Corp..

Next Story
Infrastructure Energy

India's power consumption slightly up to 140.4 billion units in October

India's power consumption experienced a slight increase of about one per cent, reaching 140.47 billion units (BU) in October, compared to the same period last year. This growth was primarily attributed to a high base effect. In October of the previous year, power consumption had surged by over 22 per cent to 139.44 BU from 113.94 BU in October 2022. The maximum daily supply, or peak power demand met, decreased to 219.22 GW in October 2024 from 221.53 GW in October 2023. May 2024 saw peak power demand reach an all-time high of nearly 250 GW, surpassing the previous record of 243.27 GW set in S..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000