Indian sovereign green bonds are issued for contribution towards sustainability of climate and to strengthen the Indian currency. They are issued in local currency in the national and global market. They attract primarily domestic investors because the get invested in the central bank of India. Just like regular bonds, companies and governments issue green bonds, but the borrowed money goes toward specific environmental projects.

In India, ongoing environmental projects, including the Green India Mission (GIM), which influences green bands (or green belts) to protect, restore, and enhance forest cover, contributing to climate change adaptation and mitigation, and promoting sustainable development. In environmental context, a “green belt” refers to a policy or practice of designating and protecting areas of undeveloped land, often surrounding or near urban areas, to prevent urban trail, preserve natural habitats, and enhance the environment. 

Some well-known green bonds in India include those issued by NTPC (National Thermal Power Corporation) for renewable energy projects, IRFC (Indian Railway Finance Corporation) for sustainable transportation, and Yes Bank, one of the first private sector green bond issuers, Tata Cleantech Capital Limited, Ghaziabad Nagar Nigam, National Highways Authority of India (NHAI), and green bonds issued by municipal corporations like Vadodara and Indore which are also focused on renewable energy. 

Green bonds that are issued to raise finance for climate change solutions were in the past also called climate bonds. They are used for climate change mitigation or adaptation related projects or programs’, what makes a bond “green”? The funds raised from its issuance are exclusively used to finance or refinance projects with a positive environmental impact, such as renewable energy, energy efficiency, and sustainable water management, rainwater harvesting, reforestation etc. 

It’s all about the purpose. When you buy a green bond, your money is being used for things like renewable energy sources, clean transportation, or projects that reduce pollution. A green bond is used to finance or refinance projects that contribute positively to the environment and or climate. As of January 2023, green bonds have raised $2.5 trillion globally to support green and sustainable projects. As the market for these bonds has grown, investors have become more conscious of the overall impact of their investments.

Why do we need Green Bonds? These bonds could help meet India’s ambitious clean energy and infrastructure development goals. For instance, in Feb 2023 the government committed ₹35,000 crore, over multiple years, towards green tech to achieve its net zero emission target. This spend is only expected to rise.

India’s Sovereign Green Bond (SGrB): In a bid to mobilize resources for green infrastructure projects, India issued its first SGrB of ₹8,000 crore, a two-tranche deal divided equally between five and ten-year terms, in January 2023. On February 9, each portion of money  was reopened for an additional ₹8,000 crore, bringing India’s total green bond liabilities to ₹16,000 crore in FY23. Sovereign Green Bonds are debt securities issued by a national government to fund projects that have positive environmental benefits. The proceeds from these bonds are exclusively allocated to green initiatives, which can include renewable energy projects, sustainable agriculture, waste management, and more.

In 2024, the green bond market saw strong performance, with issuance reaching record levels and outperforming conventional bond markets, reaching a cumulative value of $447 billion. Green bonds continue to be the preferred instrument for utilities, with 81% of their total issued in GSS bonds. Green, social, and sustainability (GSS) bonds finance projects with measurable environmental, social, or sustainability objectives. Green bonds fund eco-friendly projects such as renewable energy and climate adaptation. Social bonds address social challenges like affordable housing and healthcare.

Green bonds are a good source for safe investment. For corporates, it is one of the best tools to raise funds to support environment or climate-related projects. Organization-guaranteed Bonds – it is also known as general obligation bonds. The bonds creditworthiness is based on the organization issuing the bond.

Like green bonds blue Bonds and blue loans are financing instruments that raise and allocate funds for investments such as water and wastewater management, reducing ocean plastic pollution, marine ecosystem restoration, sustainable shipping, eco-friendly tourism, or offshore renewable energy. Blue bonds have not been issued in India yet. However, a report on blue bonds has been prepared by Niti Aayog and submitted to SEBI in 2023.

Every day we make countless decisions and choices in our lives that affect the environment, the climate and other species. It’s estimated that the average adult makes more than 35,000 decisions per day from what we eat from where to buy it, what to read, what to wear, where to visit, how many events to attend, what time to go to bed……the list is big.  While making decisions we can reduce our environmental footprint to leave more room for wild animals, birds, sea creatures, flora & fauna.

Limit your shopping

A lot of times people spend over their budget and get into deep financial trouble, spending more than their income. And they don’t regret their decision of unwarranted shopping. They can go all over the mall, and keep shopping. Some people are such addicted buyers that when they go to buy one handbag, they will end up buying 10 handbags and come out of the shop. And some people will spring out and go on buying spree when they are emotionally low; such people are called ’Compulsive Shopaholics’. Reduce, Reuse and Recycle. Every product we purchase has an environmental footprint, from the materials used to create it to the pollution emitted during manufacturing to the packaging that ends up in landfills, so before we buy, we must check ourself if we really need it.

Save water

Water is a precious commodity. Save water as much as you can. In fact, we must start to recycled sewage water and used it for crops. So, even in a rain-deficient year, the crops will survive. Always turn off taps/faucets, invest in low flush toilets, water plants alternate days, invest in high efficiency washing machine, don’t waste too much water to wash your car/vehicle. Rain water harvesting is a must in future. Most importantly, you can save a lot of water by simply taking a bucket bath instead of using shower. Even if your city is not suffering at the moment, the world is at the brink of going dry. Several cities have already run out of water, and many cities and villages have a few days or months of water left. Using a bucket instead of a shower is one of the things that you can do to minimise the utilisation of water.

Drive less, instead use public transport

It reduces congestion in towns and cities. using public transport is cheaper than owning and operating a car. Instead, go for bus priority measures. Usage of too many vehicles only increase it reduces your carbon footprint. Changing your driving habits can dramatically reduce your carbon footprint. Walk, bike, carpool or use public transportation whenever possible. 

Use bicycles

Bicycles are widely used for transportation; bicycles have tiny manufacturing footprints compared to other automobiles.  Riding a bicycle can improve your mental and physical health and wellbeing. Riding a bike is great exercise and increases cardiovascular fitness. Riding a bike is a great way to visit various places locally. And, maintaining a bicycle is easier.

Say no to plastic

We are literally living in a plastic world. Recent research shows that around 2 million plastic bags are used every minute around the world, with less than 3% being recycled globally. A 2014 UNEP (United Nations Environment Program) report estimates about10 to 20 million tons of plastic finding its way into the world’s oceans each year. Do you know that so much plastic is dumped into the sea each year that it would fill five carrier bags for every foot of coastline on the planet, scientists have warned. Around 8 million tons of plastic bottles, bags, toys and other plastic rubbish ends up in the oceans. Plastic never goes away. Every year thousands of seabirds, sea turtles, seals and other marine mammals are killed after consumption plastic or getting tangled up in it.

Buy Recycled Products

Use reusable bags when you shop, ditch single-use water bottles, bags, and straws and avoid products made from or packaged in plastic whenever possible e.g. select unwrapped produce at the grocery store, shop local, cut down on online shopping. Buy recycled paper, sustainable products like bamboo and straws. Never buy furniture made out of wood from rainforests. Recycle your cell phones, because a lifeless used in cell phones and other electronics is mined in gorilla habitat. Minimize your use of palm oil because forests where tigers live are being cut down to plant palm plantations. Whenever you go grocery shopping make it a point to carry your own bags, even if they are plastic.

Buy forest-friendly products

We must get educated about forests, their importance, and the threats they face. The more we learn about wonderful forest ecosystem, the more we will appreciate critical role played by forests in our planet’s health. Purchase products to prevent deforestation. Agriculture is responsible for 80 percent of deforestation around the world, with mining and logging contributing as well. Beef is by far the worst offender—in addition to driving widespread forest clearing in the tropics, cows contribute heavily to climate change by emitting methane. Avoid buying beef, soy, uncertified palm oil or other products that come from the tropics. Food cooperatives and natural food stores often carry these products. Buy shade-grown coffee, which is grown under the forest canopy rather than on cleared lands.

Buy from local markets

What this means is, instead of heading to the supermarket, buy stuff from the local green grocer, milk man, flower shop, or head to the nearest farmer’s market or mandi where you can get fresh, quality produce and pay much less than how much you would at a shopping mart. You will get the satisfaction of helping some hard-working farmer, you will help some local entrepreneurs to do honest business. By purchasing food and other goods that are produced locally you stimulate the economy in which you live. Jobs are created or retained, the community gains revenue, families and cultures are supported, and local economy thrive and grows.

Reduce wastage of energy

Wastage of energy is another factor that handicaps measures for sustainable living. Avoid too much of usage of electricity. Make use of natural light, opt for LED bulbs instead of CFL. Switch off that light and fan/AC, television, before you leave a room. We can save so much energy if practice shutting down our computers while not in use because computers are the biggest energy users, unplug idle electronics, use a power strip to reduce plug load.

Conclusion

People all over the world which include families, friends, communities and governments need to recognise the threat of natural disasters due to climate changes. We need to make changes before it is too late. Together we need to reduce the use of fossil fuels, stop rainforest destruction and get power from renewable sources by putting pressure on governments or companies to find alternative solutions but also, we need to make changes in our everyday lives. 

Solar energy is a renewable free source of energy that is sustainable and totally endless, unlike fossil fuels that are determinate. It is non-polluting source of energy and it does not emit any greenhouse gases while producing electricity. The sun is probably the most key source of renewable energy available today. We all know that the fortunes of nations depend on the energy sources they use to fuel their economic life. For example, coal power was instrumental to the rise of the British Empire, which reached its peak in the 19th century. But the 20th century belonged to the United States because it was quicker to adopt petroleum, which proved to be a more efficient form of energy. Likewise, economic supremacy in the 20th century is largely determined by which country manages to harness the cleanest, most cost-effective, and planet-friendly fuels of tomorrow. For sure countries which will use solar energy will progress.

Solar power is reliable energy. The rising and setting of the sun is most consistent. We know all across the world, when the sun rises and sets. We do also have fairly good seasonal and daily projections for the amount of sunlight that will be received in different locations, this makes solar power an extremely reliable source of energy. Two main types of solar energy systems are in use today: photovoltaics, and thermal systems.

Sun shines for each creature. Nobody can claim monopoly over the sun or no one can buy out sun. Combined with the simplicity of solar panels, this also provides the notable solar power advantage of energy security, something the US military has pointed out for years, and a major reason why it is also putting a lot of its money into the development and installation of solar power systems.

Solar power users enjoy energy independence as the “fuel” for solar panels cannot be bought or monopolized; it is free for all. Once you have solar panels on your roof, you have independent source of electricity that is all yours. This is important for individuals, but also for cities, counties, states, countries, and even companies.

Solar power industry has made incredible advancements which surely is helping to save the planet. If you don’t want to undertake the expense and hassle of installing a full solar power system to provide electricity for your entire house, you can use solar power flexibly at your home for indoor light. These indoor lights capture light energy during the day and store it in small batteries which light the bulbs. You can use them for outdoor lights as well, your cell phone, laptop, MP3 players and many other electronic gadgets can be charged with solar power. There are several solar-powered chargers in the market that either charge internal batteries, like in cell phones or charge C, D, AA, and AAA batteries for use in other electronic devices. These rechargers come with different size cords to be used with different items. Using solar power to charge the electronic items which you use each day will reduce your electric bill each month.

For a small price, you can install a solar-powered water heater system to produce hot water for your home. They can be used in any climate. These systems include storage tanks and solar collectors also. Most solar water heaters require a well-insulated storage tank with an additional outlet and inlet connected to and from the collector. In two-tank systems, the solar water heater heats water before it enters the conventional water heater. In one-tank systems, the back-up heater is combined with the solar storage in one tank.

Solar energy was first used for cooking in a specially-designed oven that captured the sun’s rays to heat food. These small ovens were originally built for camping, but they work great for outdoor summer cooking as well. Rather than mess with charcoal or propane tanks, solar ovens are inexpensive and easy to use without all the waste of conventional cooking techniques. These small ovens can cook food at a temperature of up to about 350 degrees and are fully solar-powered. Your oven can be used on electricity energy as well. A unique system of glass and reflective material absorbs the sun’s heat like a solar cell and then magnifies it so that it is hot enough to cook.

The Shirdi Saibaba Sansthan Trust in Maharashtra which used to use 500 metric tons of LPG earlier for cooking food for the pilgrims, took a decision to install solar cooking project worth Rs.1.33 crores. The benefit has been felt immediately. Today, the Sansthan claims that it has reduced the use of LPG by 74 metric tons and saving over Rs . 29 lakhs annually. In addition it is receiving carbon credits from an international organization! The Sansthan’s Prasadalaya(cooking and serving hall) is said to be Asia’s biggest prasadalayas.

Tirumala Tirupathi Devasthanam (TTD) in Andhra Pradesh is one of the most popular pilgrimage places in India. Devotees pour in from all over the world; the temple authorities provide food for huge number of devotees’ every day at the temple. The temple kitchen uses a huge solar steam cooking system in the temple premises. The solar steam cooking system installed by the Tirumala Tirupathi Devasthanam (TTD) at Tirumala in Andhra Pradesh has the ability to prepare food for 15,000 people a day. This inventive system uses automatic tracking solar dish concentrators that convert water into high-pressure steam. The steam thus generated is utilized for cooking at TTD. The authorities have linked the system with the existing diesel boiler to ensure that the system’s usability and reliability remains intact under all climatic conditions.

The hospitality and healthcare segment is slowly opting for solar energy. Adapting to renewable sources of energy is one of the most beneficial and sensible long-term decisions that any company can take. A large portion of the energy is required in hotels and hospitals. ITC, Maurya has set an example by pioneering the successful use of solar technology for satisfying its thermal energy needs in laundry, cooking, bathing and other applications. ITC Limited is credited with being a pioneer in initiating a number of environment friendly changes. It is one of the few carbon positive companies in India.

Solar panels are getting cheaper therefore, they are being bought from houses, schools and hospitals. People are becoming aware about solar energy which is certainly a good sign. Free power from solar panels offset the high rate of electricity for commercial use, and businesses are also able to claim accelerated depreciation (a method to increase deductions) on the equipment to lower their taxable income.

Friends, climate change is a real threat to the future of human life and all other life on Earth. We needs to reduce global greenhouse gas (GHG) emissions ~80% by 2050. Since ~60% of global emissions stem from energy use, we need to deploy low-carbon energy technologies at massive scale. Solar is by far the largest energy resource available renewables on Earth. This technology is now poised to play a larger role in the future. More and more architects are recognizing the value of active and passive solar and learning how to effectively integrate it into building designs. Shell Global has predicted that 50% of the world’s energy will come from renewable sources by 2040. Solar Energy is indeed the smartest energy choice under the sun.