The Center is about to start the auction procedure for sovereign green bonds in the country, and this is the goal

The central government is ready to start the first phase of the sovereign green bond auction process in the country soon. According to reports, the first bidding process will start from January 25th. Sovereign green bonds are issued by the Reserve Bank of India on behalf of the central government with the aim of securing funds for nature-friendly infrastructure development projects in the country’s public sector. The second phase of the bidding process will start on February 9.

The bonds will be issued in two periods, namely 5 years and 10 years. The Center has decided to issue bonds worth Rs 4,000 crore each. The two-stage auction aims to raise Rs 8,000 crore each out of a total of Rs 16,000 crore. The auction will be held at a fixed price. The Center aims to make India a green energy country by 2070. In the latest budget, Finance Minister Nirmala Sitharaman announced that green bonds will be issued as a first step to reduce carbon emissions and become carbon neutral.

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