An Indian company has issued the country’s first climate bond worth $44 million (£29.9m).
It is also the first certified green bond from Asia, according to the Climate Bonds Initiative.
A ‘Climate Bond’ certification assures the funding contributes to the delivery of a low carbon economy.
Hero Future Energies, the green energy arm of Hero Group, aims to use the fund raised to expand its wind energy portfolio by 521.5MW.
It includes construction of wind farms and supporting infrastructures in the states of Madhya Pradesh, Telangana and Andhra Pradesh.
The certification was approved by KPMG, confirming the green credentials of the bond comply with the standards needed.