Enter the green age: The financial journey cannot be full of potholes

The details of the transition towards climate-change-related finance will require deft handling

In the first fortnight of January, the Export-Import Bank of India raised $1 billion in green bonds priced at 190 basis points over the 10-year US Treasury Bill. The deal — put through by J P Morgan, Bank of America (BankAm), Barclays, Citigroup, HSBC, Mitsubishi UFJ Financial Group, and Standard Chartered Bank — was the largest such issuance by an Indian entity.
 
Close on its heels came the maiden auction of twin sovereign green bonds for a cumulative Rs 8,000 crore, via five- and 10-year papers. And last week saw a Rs 244-crore float in the same genre by