India scurries on green bond plans to secure energy needs ahead of Europe

Both regions seek to attract big money to build renewable capacity and prune reliance on Russian gas following the outbreak of the Ukraine war

The planned issue of sovereign green bonds by India is its riposte to the reported mega issue of EU bonds, to jointly finance the development of renewable capacity in Europe. While there has been no subsequent announcement by the EU about the plans after they was reported by Bloomberg last week, the Indian plans are firm. The EU response was supposed to be a fallout of the Russia-Ukraine war that has pushed these countries to try out new ways to reduce their dependence on Russian gas that currently provides 40 per cent of the continent’s energy needs. 

Government sources have,