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Informist, Tuesday, Oct. 1, 2024

NEW DELHI – The Securities and Exchange Board of India has approved expanding the scope of its Sustainable Finance Framework to include social bonds, sustainable bonds, and sustainability-linked bonds. The markets regulator had proposed this expansion in August, and approved it in a board meeting Monday.

Together with green bonds, these will now form a class of securities called Environment, Social and Governance Debt Securities. Companies can now raise funds through any of these instruments under guidelines specified by SEBI, it said in a release. To facilitate this, the regulator has amended the SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021.

"Such frameworks (including international frameworks as adapted to suit Indian requirements) shall be specified by SEBI from time to time, with necessary requirements of disclosures," the release said. The consultation paper in August had said that disclosures on such instruments would be in line with international frameworks.

SEBI also said that any standards based on these instruments will be specified by the Industry Standards Forum after consultation with the regulator. The approval came amid a slew of decisions by SEBI Monday, including the introduction of a new class of mutual funds and various changes for the securities market.  End

Reported by Aaryan Khanna

Edited by Ashish Shirke

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