top of page

ISSUANCE AND LISTING OF GREEN DEBT SECURITIES _ DISCLOSURE REQUIREMENTS

Writer: Taxgen TeamTaxgen Team

Overview

Securities and Exchange Board of India (SEBI) has prescribed SEBI (Issue and Listing of Debt Securities) Regulations, 2008 (“SEBI ILDS Regulations") to govern public issue of debt securities and listing of debt securities issued through public issue or on private placement basis.

Further SEBI has issued Circular no. CIR/IMD/DF/51/2017 for public issue and listing of Green Debt Securities and listing of privately placed Green Debt Securities,

Definitions of “Green” or “Green Debt Securities”

A Debt Security shall be considered as „Green‟ or „Green Debt Securities if:

The funds raised through issuance of the debt securities are to be utilised for project(s) and/or asset(s) falling under any of the following broad categories:

- Any other category as may be specified by Board, from time to time.


Disclosures in Offer Document/ Disclosure Document and other requirements


  • A statement on environmental objectives of the issue of Green Debt Securities

  • Brief details of decision-making process issuer has followed/would follow for determining the eligibility of project(s) and/or asset(s)

  • An indicative guideline of the details to be provided is as under:


  1. the process followed/ to be followed for determining how the project(s) and/or asset(s) fit within the eligible green projects categories

  2. the criteria, making the project(s) and/or asset(s) eligible for using the Green Debt Securities proceeds

  3. environmental sustainability objectives of the proposed green investment.

  • the details of the system/procedures to be employed for tracking the deployment of the proceeds of the issue.

  • Details of the project(s) and/or asset(s) or areas where the issuer, proposes to utilise the proceeds of the issue of Green Debt Securities,

  • The issuer may appoint (optional) an independent third-party reviewer/certifier, for reviewing /certifying the processes including project evaluation and selection criteria, project categories eligible for financing by Green Debt Securities.

Continuous disclosure requirements

1. The following shall be provided along with the half-yearly & annual financial results :


  • Utilization of the proceeds of the issue, as per the tracking done by the issuer using the internal process as disclosed in offer document/disclosure document. The utilization of the proceeds shall be verified by the report of an external auditor, to verify the internal tracking method and the allocation of funds towards the project(s) and/or asset(s), from the proceeds of Green Debt Securities.

  • Details of unutilized proceeds.

2. Additional disclosures have to be provided along with annual report:


  • List of project(s) and/or asset(s) to which proceeds of the Green Debt Securities have been allocated/invested including a brief description of such project(s) and/or asset(s) and the amounts disbursed

  • Qualitative performance indicators and, where feasible, quantitative performance measures of the environmental impact of the project(s) and/or asset(s).

  • Methods and the key underlying assumptions used in the preparation of the performance indicators and metrics;

Kindly note :

An issuer of Green Debt Securities or any agent appointed by the issuer, if follows any globally accepted standard(s) for the issuance of Green Debt Securities including measurement of the environmental impact, identification of the project(s) and/or asset(s), utilisation of proceeds, etc., shall disclose the same in the offer document/disclosure document and/or in continuous disclosures.


Source: SEBI Website

Circular on Disclosure Requirements for Issuance and Listing of Green Debt Securities

 


 

Submit your article at Taxgen, just click on the link and submit your article : https://www.taxgen.in/submit-articles

Коментарі

Оцінка: 0 з 5 зірок.
Ще немає оцінок

Додайте оцінку
  • Facebook
  • YouTube
  • Instagram

Quick Links

About us

Terms of Information Provided.

The information contained in this website is for general information purposes only. The information is provided by Taxgen.in and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Every effort is made to keep the website up and running smoothly. However, Taxgen.in takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.

This website provides free updates to Businessmen , Chartered Accountants, Company Secretaries, Tax Professional, Cost Accountants and other Account Professional on Amendments in Income Tax, Wealth Tax, Goods and Services Tax, Company Law, Service Tax, ICAI Regulation, FEMA, RBI, Custom Duty, Excise, Labour laws, Corporate Law , Goods and Service Tax etc. We update our reader with latest News on these which includes recent Circular, Notification, Amendments, and Case Laws etc.

We also provide various useful tools , Formats and Forms related to above laws in excel and word format. We Provide ITR Forms in Excel Format for , Income Tax Calculators , Income Tax Rates, Challan and other forms in Excel format, Information of IT Act / Rules, Investment, Tax Planning, Tax Saving Options, Financial and Other Utility Calculators for the benefit of public at large .

Forum

Taxgen.in provides the readers with the desired solution for the problems of the trade , our panel of authors are expert in their fields with vast knowledge and experience. 

©2020 by Taxgen.in.

bottom of page