India Inx-India International Exchange IFSC Ltd, GIFT City, SEZ, Listing

> Green, Social and Sustainable Bonds

Green, Social and Sustainable Bonds

Criteria for listing on GSM GREEN

Green, Social, Sustainability or Sustainability-Linked Debt Securities
The debt securities shall be labelled as “Green”, “Social”, “Sustainability” & “Sustainability-linked” if the funds raised through the issuance of such debt securities are to be utilised for financing or refinancing projects and/or assets aligned with any of the following recognised frameworks:
- International Capital Market Association Principles / Guidelines;
- Climate Bonds Standard;
- ASEAN Standards;
- European Union Standards / Taxonomy;
- Any framework or methodology specified by a competent authority in India; or
  a. Other international standards
The issuer shall appoint an independent external reviewer to ascertain that the ESG debt securities are in alignment with any of the above recognised framework.
The independent external review may take one or more of the following forms recommended by International Capital Market Association:
- Second Party Opinion
- Verification
- Certification
- Scoring / Rating
MoU with Luxembourg Stock Exchange
“In 2019, India INX unveiled its Green listing and trading platform. GSM Green serves as platform for fund raising and trading green, social and sustainable bonds exclusively. The platform of India INX is established as per ICMA’s Green Bond Principles and Climate Bonds Initiative which provides an ideal platform for global investors to invest. India INX is committed to facilitate fund raising for green financial projects and promotes ESG standards through GSM Green Platform. It is in this perspective that this pact with Luxembourg Stock Exchange, being one of the largest and most popular destinations for listing of Green and sustainable bonds by issuers across the world, will provide opportunities for dual listing, enhancing visibility and also increase secondary market trading in green.

The MoU with Luxembourg Stock Exchange provides the issuers and investors with an opportunity to list and trade green bonds on India INX platform GSM Green with opportunity to dual list with Luxembourg Stock Exchange which is the largest green bond listing platform with exceptional governance standards. The MoU also encompasses other areas of mutual interest in Green bonds and ESG space. It is one of the few initiatives the two Exchanges have deliberated on to encourage more green funding which is in line with the Government of India initiative of sustainable development. Currently the two Exchanges are working with a large Indian issuer to enable dual listing on Luxembourg Stock Exchange.”