New Delhi, Oct 5 (SocialNews.XYZ) A acommittee of experts on "Sustainable Finance", formed by the International Financial Services Centres Authority (IFSCA), has suggested use of innovative instruments such as catastrophe bonds, municipal bonds, green securitisation, and blended finance among others.
Focusing on the need to enhance capital flows in IFSC, the committee has endorsed the need to enable aggregation facilities, impact funds, and green equity in IFSC.
In addition to this, it recommended that IFSCA should play a vital role in capacity building as it lays the foundation for greening the financial system.
Some important recommendations include developing a voluntary carbon market, framework for transition bonds, enabling de-risking mechanisms, promoting regulatory sandbox for green fintech, and facilitating the creation of a global climate alliance among others.
The committee has also given its recommendations on various aspects of sustainable finance including products, policies and regulations, capacity building and outreach initiatives related to green and sustainable finance.
The panel had submitted its final report to IFSCA Chairperson on October 3.
The committee, chaired by former Environment Secretary C.K. Mishra, comprised leaders and experts from the entire sustainable finance ecosystem including national and international institutions.
The main focus areas of the committee were directed towards aligning the IFSC regulations with the international best practices, exploring ways in which capital flows through IFSC can be enhanced and also support development of innovative financial products in the area of green and sustainable finance.
Source: IANS
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz
This website uses cookies.
