SEBI extends the deadline for public comments on the blue bonds consultation paper

30 Aug 2022 , 10:51 AM

The deadline for public comments on the consultation paper on blue bonds as a sustainable method of finance has been extended by the regulator of capital markets, the SEBI, until the end of September.

Oceanic resource extraction and sustainable fishing are just two examples of blue economy-related activities that can be funded with blue bonds.

August 31 is the cut-off date for submitting public comments on the consultation paper that was circulated on August 4.

The regulator announced in a notice that the deadline had been extended to September 30.

In addition to the idea of "blue bonds," the watchdog in its consultation paper advised increasing disclosures and broadening the definition of "green debt securities" to strengthen the framework for green bonds.

The recommendations seek to be in line with the International Capital Market Association's (ICMA) recently modified Green Bond Principles (GBP).

There have been numerous developments in the sustainable finance sector since Sebi established the framework for green debt securities, prompting a review in the Indian environment.

"Sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while conserving the health of the ocean ecosystem" is what the World Bank refers to as the blue economy.

India's coastline stretches about 7,500 kilometres, and there are 14,500 kilometres of navigable inland waterways. The rise of the blue economy can help spur this.

Currently, 4.1% of India's economy is made up of the blue sector.

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