Green Bonds Driving Sustainable Transition in Asian Economies: The Case of India

Article


Prakash, N. and Sethi, M. 2021. Green Bonds Driving Sustainable Transition in Asian Economies: The Case of India. Journal of Asian Finance, Economics and Business. 8 (1), pp. 723-732. https://doi.org/10.13106/jafeb.2021.vol8.no1.723
AuthorsPrakash, N. and Sethi, M.
Abstract

On September 25, 2015, 193 countries of the United Nations (UN) General Assembly, signed the 2030 Agenda to work towards attaining 17 Sustainable Development Goals (SDGs) and its associated 169 targets and 232 indicators. With one of the largest renewable energy programs, India is well-poised to be a role model for low-carbon transformation to other Asian countries. However, bridging the financing gap is critical to ensure that the country meets its SDG targets. Though the SDGs identified by the UN are broad-based and interdependent, for ease of analysis we have grouped them into five themes-people, planet, prosperity, peace, and partnership-based on existing UN models. This paper investigates the financing gap for 'green' projects linked to planet-related SDG targets in India. It builds an argument for utilizing green bonds as an instrument to bridge the gap. After establishing the potential of green bonds in raising the finance to meet India's planet-related SDG targets, we look at the current policy landscape and suggest recommendations for successful execution. The paper concludes that deepening of the corporate fixed income securities market and firming up guidelines in line with India's climate action plans are inevitable before green bonds can be considered a viable financing option.

KeywordsGreen Bond; Sustainable Development Goals (SDGs); Green Financing; Climate Finance; Environmental Finance
JournalJournal of Asian Finance, Economics and Business
Journal citation8 (1), pp. 723-732
ISSN2288-4645
Year2021
PublisherKorea Distribution Science Association
Publisher's version
License
File Access Level
Anyone
Digital Object Identifier (DOI)https://doi.org/10.13106/jafeb.2021.vol8.no1.723
Publication dates
Online30 Jan 2021
Publication process dates
Accepted14 Dec 2020
Deposited26 Feb 2024
Copyright holder© 2020, The Authors
Permalink -

https://repository.uel.ac.uk/item/8x59w

Download files


Publisher's version
  • 129
    total views
  • 169
    total downloads
  • 59
    views this month
  • 45
    downloads this month

Export as

Related outputs

Role of management education in adapting the Indian public sector to market-based economic reforms
Prakash, N. and Hawaldar, A. 2023. Role of management education in adapting the Indian public sector to market-based economic reforms. International Journal of Public Sector Management. 36 (4-5), pp. 315-332. https://doi.org/10.1108/IJPSM-01-2022-0003
Relationship between fixed capital formation and carbon emissions: Impact of trade liberalization in India
Prakash, N. and Sethi, M. 2023. Relationship between fixed capital formation and carbon emissions: Impact of trade liberalization in India. Cogent Economics and Finance. 11 (Art. 2245274). https://doi.org/10.1080/23322039.2023.2245274
Investigating the Determinants of Financial Well-Being: A SEM Approach
Prakash, N. and Hawaldar, A. 2023. Investigating the Determinants of Financial Well-Being: A SEM Approach. Business Perspectives and Research. 12 (1), pp. 11-25. https://doi.org/10.1177/22785337221148253
The impact of Covid-19 on the capital structure in emerging economies: evidence from India
Prakash, N., Meheshwari, A. and Hawaldar, A. 2023. The impact of Covid-19 on the capital structure in emerging economies: evidence from India. Asian Journal of Accounting Research. 8 (3), pp. 236-249. https://doi.org/10.1108/AJAR-05-2022-0144
Investigating the foreign trade-emission nexus in RCEP
Prakash, N. and Sethi, M. 2022. Investigating the foreign trade-emission nexus in RCEP. International Journal of Green Economics. 16 (3), pp. 219-234. https://doi.org/10.1504/IJGE.2022.128932
Emissions-foreign trade nexus: establishing the need to harmonize environment and economics in RCEP
Prakash, N. and Sethi, M. 2022. Emissions-foreign trade nexus: establishing the need to harmonize environment and economics in RCEP. Journal of Economic and Administrative Sciences. 40 (1), pp. 130-141. https://doi.org/10.1108/JEAS-04-2022-0093
A review of innovative bond instruments for sustainable development in Asia
Prakash, N. and Sethi, M. 2022. A review of innovative bond instruments for sustainable development in Asia. International Journal of Innovation Science. 14 (3/4), pp. 630-647. https://doi.org/10.1108/IJIS-10-2020-0213
Demographic characteristics influencing financial wellbeing: a multigroup analysis
Prakash, N., Alagarsamy, S. and Hawaldar, A. 2022. Demographic characteristics influencing financial wellbeing: a multigroup analysis. Managerial Finance. 48 (9-10), pp. 1334-1351. https://doi.org/10.1108/MF-09-2021-0466
The impact of external debt on economic growth in emerging economies: investigating the role of capital formation
Prakash, N. and Panigrahi, S. R. 2021. The impact of external debt on economic growth in emerging economies: investigating the role of capital formation . International Journal of Economic Policy in Emerging Economies. In Press. https://doi.org/10.1504/IJEPEE.2021.10036988
Does Gender and Family Income Impact Stock Trading of B-School Students? Findings from a Stock Simulation Exercise
Prakash, N. and Alagarsamy, A. 2021. Does Gender and Family Income Impact Stock Trading of B-School Students? Findings from a Stock Simulation Exercise. Vision: The Journal of Business Perspective. 26 (4), pp. 454-460. https://doi.org/10.1177/0972262921992591
Market reaction to dividend announcements during pandemic: An event study
Prakash, N. and L, Y. 2021. Market reaction to dividend announcements during pandemic: An event study. Vision: The Journal of Business Perspective. In Press. https://doi.org/10.1177/09722629211066288