An Empirical Assessment of India’s Position in Global Sustainable Bond Market

This study aims to examine India's position in the global green bond market and identify areas for improvement to develop its sustainable finance sector. Analysing data from the Luxembourg Green Exchange (1999-2024) and Indian market sources, including Securities and Exchange Board of India, National Stock Exchange, and Climate Bond Initiatives. Findings reveal that green bonds dominate the global market, with the Luxembourg Green Exchange showing the highest variability in bond coupons and maturity durations. In India, the private sector holds a significant 84% market share, with companies issuing various sustainable bonds. However, challenges persist, including lack of standardisation, limited investor awareness, and inadequate disclosure and reporting standards. Research findings have implications for policymakers, investors, and issuers, emphasising the importance of a supportive ecosystem for sustainable finance to flourish in India. Addressing the challenges and leveraging opportunities can help India unlock the full potential of its green bond market and contribute to global sustainable finance efforts. This study contributes to understanding India's green bond market and its potential for growth, highlighting the need for increased standardisation, transparency, and alignment with national and international best practices to develop India's sustainable finance sector.Copyright© 2024 The Author(s). This article is distributed under the terms of the license CC-BY 4.0., which permits any further distribution in any medium, provided the original work is properly cited.