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Sebi puts in place disclosure norm for green bonds

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To help companies raise funds through green bonds for investment in renewable energy space, the Securities and Exchange Board of India (Sebi) on Tuesday put in  place disclosure norms for issuance and listing of such bonds. The issuer of a green bond will have to make disclosure about environmental objectives of the issue  of such securities in the offer documents, Sebi said in a circular. Besides, issues would have to provide details of the systems and procedures to be employed for  tracking the proceeds of the issue, including the investments made and earmarked for eligible projects in the offer documents. In addition, the issuer would have to  make disclosures including use of proceeds, list of projects to which green bond proceeds have been allocated in the annual report and periodical filings made to  the stock exchanges.

Business Standard, New Delhi, May 31, 2017

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