{"id":209954,"date":"2022-10-10T18:45:12","date_gmt":"2022-10-10T13:15:12","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=209954"},"modified":"2022-10-10T18:45:12","modified_gmt":"2022-10-10T13:15:12","slug":"committee-on-sustainable-finance-submits-suggestions-to-ifsca","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/committee-on-sustainable-finance-submits-suggestions-to-ifsca\/","title":{"rendered":"Committee on sustainable finance submits suggestions to IFSCA"},"content":{"rendered":"\n<p><strong>Source<\/strong>: The post is based on the article\u00a0<strong>\u201cCommittee on sustainable finance submits suggestions to IFSCA\u201d <\/strong>published in <b>The Indian Express <\/b>on <strong>5<sup>th <\/sup>October 2022<\/strong>.<\/p>\n<h5>What is the News?<\/h5>\n<p>A \u201ccommittee of experts on sustainable finance\u201d was constituted by International Financial Services Centres Authority (IFSCA) at the GIFT City. Now, the committee has submitted its suggestions.<\/p>\n<h5>What is Sustainable Finance?<\/h5>\n<p>It refers to any form of financial service integrating environmental, social and governance(ESG) criteria into the business or investment decisions for the lasting benefit of both clients and society at large.<\/p>\n<h5>About the committee of experts on sustainable finance<\/h5>\n<p><strong>Headed by<\/strong>: CK Mishra, former secretary, Union Ministry of Environment, Forest and Climate Change<\/p>\n<p><strong>Major focus<\/strong>: The main focus of the committee was to align the IFSC regulations with international best practices.<\/p>\n<p>The committee also explored ways in which capital flows through IFSC can be enhanced and support the development of innovative financial products in the area of green and sustainable finance.<\/p>\n<table style=\"border-collapse: collapse; width: 100%;\">\n<tbody>\n<tr>\n<td style=\"width: 100%;\"><strong>Read more: <a href=\"https:\/\/forumias.com\/blog\/finmin-undp-launch-sustainable-finance-collaborative\/\">FinMin, UNDP launch Sustainable Finance Collaborative<\/a><\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h5>What are the major recommendations of the committee?<\/h5>\n<p><strong>Significance of the MSME<\/strong>: Considering the significance of the MSME sector in the economic development of the country, the committee also proposed setting up of a <strong>dedicated MSME platform for sustainable lending<\/strong>.<\/p>\n<p>Some other important recommendations include <strong>a)<\/strong> Developing a voluntary carbon market, <strong>b)<\/strong> A framework for transition bonds, <strong>c)<\/strong> Enabling de-risking mechanisms, <strong>d)<\/strong> Promoting a regulatory sandbox for green fintech and <strong>e)<\/strong> Facilitating the creation of a global climate alliance among others.<\/p>\n<p>The committee also recommended facilitating the use of innovative instruments such as catastrophe bonds, municipal bonds, green securitisation, and blended finance among others.<\/p>\n<table style=\"border-collapse: collapse; width: 100%;\">\n<tbody>\n<tr>\n<td style=\"width: 100%;\"><strong>Read more: <a href=\"https:\/\/forumias.com\/blog\/lets-pin-down-the-elusive-e-of-esg-transition-finance\/\">Let\u2019s pin down the elusive \u2018E\u2019 of ESG transition finance<\/a><\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: The post is based on the article\u00a0\u201cCommittee on sustainable finance submits suggestions to IFSCA\u201d published in The Indian Express on 5th October 2022. What is the News? A \u201ccommittee of experts on sustainable finance\u201d was constituted by International Financial Services Centres Authority (IFSCA) at the GIFT City. Now, the committee has submitted its suggestions.&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/committee-on-sustainable-finance-submits-suggestions-to-ifsca\/\">Continue reading <span class=\"screen-reader-text\">Committee on sustainable finance submits suggestions to IFSCA<\/span><\/a><\/p>\n","protected":false},"author":10311,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,9],"tags":[10500],"class_list":["post-209954","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","category-public","tag-indian-express","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":1700806767,"cached_date":1704805764},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/209954","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10311"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=209954"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/209954\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=209954"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=209954"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=209954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}