The IRDAI issues a Circular in Regard to the Categorisation and Classification of SGrBs

Classification of SGrBs

On 13th January 2023, the Insurance Regulatory and Development Authority of India (IRDAI) issued a Circular in regard to the Categorisation and Classification of Sovereign Green Bonds (SGrBs).

The Government of India, with the objective of reducing the carbon intensity of the economy and as a measure for achieving Nationally Determined Contribution (NDC) under the Paris Climate Change Accord, 2015, connected to climate change, mitigation, adaptation, finance and preservation of the environment, has proposed to issue Sovereign Green Bonds (SGrBs) in Budget 2022-23.

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