Now issuers of municipal debt securities may also issue green debt securities: SEBI
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- By Chetan Kulasri
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- Last Updated on 26 November, 2022
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Circular No. SEBI/HO/DDHS/DDHS_Div1/P/CIR/2022/158, Dated 24.11.2022
SEBI has clarified that issuers of municipal debt securities can issue green bonds in compliance with the guidelines for issuance and listing non-convertible debentures. SEBI (Issue and Listing of Municipal Debt Securities) or ILMDS rules provide the framework for the issuance and listing of municipal debt securities. The move is to protect the interest of investors in securities and promote the development of, and regulate the securities market.
Accordingly, SEBI now clarified that issuer under the ILMDS Regulations may issue a green debt security if it falls within the definition of “green debt security”, as per Regulation 2(1)(q) of the NCS Regulations. This circular shall come into force with immediate effect.
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