Certification

The Climate Bonds Standard and Certification Scheme is a labelling scheme for bonds. Rigorous scientific criteria ensure that it is consistent with the 2 degrees Celsius warming limit in the Paris Agreement. The Scheme is used globally by bond issuers, governments, investors and the financial markets to prioritise investments which genuinely contribute to addressing climate change.

 

Power Finance Corporation

 

Power Finance Corporation is an Infrastructure Finance Company, which is under the control of India’s Ministry of Power. Its function is to finance energy developments and infrastructure in India.

Power Finance Corporation (PFC) is commited to promoting renewable energy projects in view of their critical importance for the development of the economy of India. Also, because of broader environmental considerations and of the country's energy security policy, the Government of India has decided to meet future power requirements mainly from renewable energy. 

In this context, PFC issued an initial bond of the value of USD 400 million to finance renewable energy (solar and wind) projects exclusively. More specifically, the proceeds will be allocated to the re-fianancing of exisitng projects as we ll as the financing new eligible green projects. The proceeds from this bond would refinance lending that helped to develop over 2GW of solar and 1.4GW of wind energy projects.

 

Introduction

Indian Railway Finance

Corporation Ltd. (IRFC) is the dedicated financing arm of the Indian Railway under

the Ministry of Railways (MoR), Government of India and mobilizes funds on behalf on Indian Railways

from domestic as well as overseas capital markets. The funds are utilize

d to support the procurement of

new rolling stock assets, which are locomotives, passenger coaches and wagons and also building up

infrastructure, constituting a significant part of Indian Railways annual capital expenditure

1

.

The Company has been able to

diversify its borrowing portfolio each year through the issue of both taxable

and tax

-

free bonds, term loan from banks / financial institutions besides off shore borrowings, at competitive

market rate.

The Indian Railways have a huge role to play in comb

ating climate change wherein it aims to enhance the

share of the railways in the overall land based freight transport from the present 36% in the FY 2016

-

17 to

45% by the year 2030.

2

DATE OF ISSUE  TYPE OF INSTRUMENT SIZE TENOR COUNTRY OF ISSUE CLIMATE BONDS SECTOR CRITERIA VERIFIER'S REPORT ANNUAL REPORT FURTHER INFORMATION
 December 2017 Use of proceeds bond  USD 400m 10 years India Solar and Wind  

KPMG (India) pre issuance statement

post issuance report

Report 2018

Report 2019

Press Release

Green Bond Framework