
India Incorporates Green Bonds Into Its Climate Finance Strategy
India has begun integrating sovereign green bonds into its climate finance strategy to support its ambitious decarbonization goals. To help bridge its substantial $170 billion annual climate finance gap, India issued its first green bond in 2023 worth ₹80 billion (≈$980 million), with proceeds directed toward clean energy, sustainable infrastructure, and climate adaptation projects. These bonds exclude fossil fuel-related projects and highlight India’s commitment to green growth, backed by technical support from the World Bank.