ReportWire

Tag: sitharaman

  • FM Nirmala Sitharaman approves India’s first sovereign green bonds framework

    FM Nirmala Sitharaman approves India’s first sovereign green bonds framework

    [ad_1]

    Finance Minister Nirmala Sitharaman on Wednesday approved the final sovereign green bonds framework to fund environmentally sustainable projects. 

    Green bonds are financial instruments that generate funds for investment in environmentally sustainable and climate-suitable projects. Also, green bonds command a relatively lower cost of capital compared to regular bonds.

    Today’s approval will strengthen India’s commitment towards its Nationally Determined Contribution (NDCs) targets, adopted under the Paris Agreement, and help in attracting global and domestic investments in eligible green projects, the Ministry of Finance said.

    The proceeds generated from the issuance of such bonds will be deployed in public sector projects which help in reducing the carbon intensity of the economy.

    The framework comes close in the footsteps of India’s commitments under “Panchamrit” as elucidated by Prime Minister Narendra Modi at COP26 at Glasgow in November 2021.

    The approval is the fulfillment of the announcement in the Union Budget FY 2022-23 by the Union Finance Minister that Sovereign Green Bonds will be issued for mobilising resources for green projects.

    An independent and globally renowned organisation – CICERO –  was appointed to evaluate India’s green bonds framework and certify alignment of the framework with ICMA’s Green Bond Principles and international best practices.

    After due deliberation and consideration, the organisation has rated India’s Green Bonds Framework as ‘Medium Green’ with a ‘Good’ governance score, the ministry said.

    In November last year, PM Modi, while speaking at COP26 Summit in Glasgow, presented five elements – Panchamrit – to deal with the climate change challenge.

    “First- India will reach its non-fossil energy capacity to 500 GW by 2030. Second – India will meet 50 per cent of its energy requirements from renewable energy by 2030. Third- India will reduce the total projected carbon emissions by one billion tonnes from now onwards till 2030. Fourth- By 2030, India will reduce the carbon intensity of its economy by less than 45 percent. And fifth- by the year 2070, India will achieve the target of Net Zero,” he had said. 
     

    [ad_2]

    Source link

  • ‘Well made’: FM Sitharaman watches Kantara, congratulates director Rishab Shetty

    ‘Well made’: FM Sitharaman watches Kantara, congratulates director Rishab Shetty

    [ad_1]

    Finance Minister Nirmala Sitharaman on Wednesday watched the Kannada action thriller ‘Kantara’ at Inox Cinemas in Bengaluru, Karnataka. After watching the movie, Sitharaman spoke to ‘Kantara’ director Rishab Shetty and congratulated him. 

    The finance minister watched the movie with a team of volunteers. She said Kantara is a well-made movie that captures the rich traditions of Tuluvanadu and Karavali.

    Kantara, which hit the screens on September 30, has become the talk of the town for its compelling plot which involves conflict between humans and nature. Made in just Rs 16 crore budget, the thriller has so far collected globally Rs 280 crore. 

    The movie has received solid reviews from not just only film critics but also from other actors and politicians.  

    Earlier today, Union Minister of Commerce Piyush Goyal praised Kantara saying it “showcases the culture of Karnataka”. “Kantara is a low-budget film that showcases the culture of Karnataka. It has grossed nearly 20 times its investment. Investors and industry are attracted to India and the state that has very progressive policies,” he said. 

    Superstar Rajinikanth recently took to Twitter to praise the director for producing “this masterpiece in Indian cinema”. He said the Kantara movie gave him goosebumps. “Rishab hats off to you as a writer, director, and actor. Congrats to the whole cast and crew of this masterpiece in Indian cinema,” he said.

    Film critic Taran Adarsh today said that Kantara has crossed the lifetime business of KGF Part 1 – another Kannada blockbuster – in Hindi version. He said the movie will cross the Rs 50 crore mark in the third week.

    With a spectacular 9.1 rating, Kantara has now topped IMDb’s list of ‘India’s Current Top 250 Films’.   

    Bahubali star Prabhas in an Instagram post said he watched Kantara for the second time and “what an extraordinary experience it has been”. “Great concept and a thrilling climax. A must-watch film in theatres,” he wrote.

    Actor Dhanush also praised ‘Kantara’ calling it a “mind-blowing’ and “a must-watch” movie. 
     

    [ad_2]

    Source link