Extract:
India faces a staggering funding
gap of $10.1 trillion to achieve its net-zero commitment. The International
Financial Services Centre Authority (IFSCA) has identified the need for a
dedicated platform for trading green credit.
The
government's recent announcement allows listed and unlisted companies to
directly list themselves on IFSCA exchanges, signaling a significant move
towards promoting green finance and sustainability in the country.
My Take:
Two Sides of the Same Coin: Green Credit….17/10/2023
"Reflecting
on my earlier blog post about establishing and maintaining a trading platform
for green credits, it's heartening to see concrete steps being taken in this
direction.
The initiative
not only incentivizes companies and entities to meet their legal obligations
but also paves the way for a more sustainable future by incorporating climate
co-benefits."
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Thank You, Shri Bhupender Singh…….19/10/2023
"In line
with the government's focus on creating a uniform carbon trading market, the
recent developments in green credit trading are commendable.
The push for a
comprehensive regulatory framework will likely boost domestic demand for carbon
credits, aligning with international trends towards net-zero commitments.
The evolution
of the market over the coming years is crucial for India to emerge as a
significant player in the global carbon credit landscape."
Call to Action:
To the International Financial
Services Centre Authority (IFSCA) and relevant government bodies: It's crucial
to ensure the seamless implementation of the green credit trading platform.
Encourage
transparency, participation, and engagement from industries, companies, and
individuals to drive the success of this initiative towards achieving India's
sustainability goals.
With regards,
Hemen Parekh
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