RBI to issue green guidelines for sustainable development in India

RBI to issue green guidelines for sustainable development in India

The Reserve Bank of India (RBI) will soon be issuing green guidelines for regulated entities, according to the central bank’s governor.

These guidelines aim to promote sustainable development and combat climate change by encouraging investments in renewable energy, green buildings, and other sustainable projects. This move aligns with RBI’s strategy to fully engage in India’s net-zero strategy.

Additionally, RBI is considering granting priority sector status to green hydrogen projects. The Department of Financial Services recently held a meeting to solicit suggestions to ease financing provisions for National Green Hydrogen Financing supported projects.

India is an emerging economic power with a population of over 1.4 billion, facing challenges of development and increasing emissions.

In last Wednesday’s webinar on Climate Finance Regulation around the world, we discussed regulation in Asia with a focus on Japan and China. The Indian initiatives and commitment demonstrate that promoting a green economy is possible and should encourage other central banks to follow suit.

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