Leading Indian development bank IDBI has today joined the Climate Bond Initiative.
IDBI (formerly Industrial Development Bank of India) is an Indian government-owned bank with a balance sheet of USD53 billion.
Mr. Kishor Kharat, Managing Director & CEO, IDBI Bank, said:
“IDBI has a strong commitment to growing green finance in India and helping to meet the government’s ambitious renewable energy, rail and infrastructure objectives.
“We are keen to work with the Climate Bonds Initiative to grow a green debt capital market that will support the greening of the Indian economy. We’re also keen to promote the use of certification in the budding Indian green bond market.”
Climate Bonds CEO Sean Kidney, said:
“IDBI has been a leader in financing Indian infrastructure development for 50 years. They understand as India grows rapidly over the coming years, it has to shift to green infrastructure if it’s to avoid the air pollution and the carbon pollution China is having to wrestle with.
“They have ambitious green lending plans for the coming years. We’re very excited to have the opportunity to deepen our relationship and work with them on this vitally important task.”
Other recent partners joining us include world-leading information provider Thomson Reuters, and asset managers BlackRock Inc, and Allianz Global Investors. A full list of Partner organisations – including institutional investors, NGOs and governments - can be found here.
For those of you yet to join the party, you can find out more on how to become a Partner here or pop us an email at email@example.com.
The Climate Bonds Partners program aims to increase collaboration to rapidly grow a global green bond market. Potential Partner roles include:
- Develop initiatives to grow investment in climate solutions.
- Participate in different market development committees.
- Help define policy agendas for sector based and country programs.