G20 and Sustainable Finance: A Case for GSS+ Bonds

DOI

10.2991/978-2-38476-255-2_16How to use a DOI?

Keywords

G20; Sustainable Finance; Bonds; Framework; GSS+

Abstract

Sustainable Finance aims at the concept of incorporating various ESG factors into the process of investment decision-making in the financial domain. The concept of sustainable financing aims at increasing long-term investments in sustainable economic activities & projects. India’s G-20 presidency brought about a paradigm shift in the mindset of the Indian regulators to make a push towards sustainable finance & responsible investments. In the opening statement of G20, India promised heavy investment into sustainable development as well as reduction of carbon emission to combat climate change, in addition to India’s announcement of a “Net – Zero carbon by 2070 in the 26th session of United Nations Framework Convention on Climate Change (COP 26)”. The regulators responded to the G20 declaration by introducing a proper framework to promote the financing of projects that are sustainable in nature as well as promoting cherished ideals to everyone. The regulators in the process of introducing the G20 statement amended its 2019 regulations to incorporate changes in light of the statement. Subsequently, the Government of India introduced GSS+ bonds along with its purpose, the disbursement method to be adopted & the benefits that it carries along with the compliance required for issuing the same. The government also demarcated these bonds into four categories, namely – “Green Bonds, Social Bonds & Sustainability Bonds & other labeled bonds which included Blue, Yellow & Transition Bonds”.

This paper is divided into three parts – Firstly, the existing legal framework before the G20 statement; Secondly, the G20 statement leading to the amendment brought about by the regulator, and lastly, the scope & future of these regulations concerning sustainable finance. The paper will employ descriptive and exploratory tools for this research as the paper aims to explore the impact of recent amendments.

Copyright

© 2024 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Pratiti Nayak
AU  - Zeenat Taher
AU  - Anant V. Maria
PY  - 2024
DA  - 2024/06/13
TI  - G20 and Sustainable Finance: A Case for GSS+ Bonds
BT  - Proceedings of the NDIEAS-2024 International Symposium on New Dimensions and Ideas in Environmental Anthropology-2024 (NDIEAS 2024)
PB  - Atlantis Press
SP  - 182
EP  - 196
SN  - 2352-5398
UR  - https://doi.org/10.2991/978-2-38476-255-2_16
DO  - 10.2991/978-2-38476-255-2_16
ID  - Nayak2024
ER  -