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India’s entry into the green bond market follows the government’s introduction in recent years of a series of climate-related goals, including a pledge made at the 2021 COP26 climate conference to reach netzero by 2070. The Excluded Project category also includes nuclear power generation and hydropower plants larger than 25 MW.
Further, the shortcomings of Europe’s renewable energy directive will be debated more urgently, as energy security concerns combine with netzero targets. As some noted , legislative momentum on sustainability and climate was already slowing, just 100 days after COP26.
Since then, heatwaves across the northern hemisphere, gathering energy and food security crises, and climate policy actions across the globe, notably in the US , have raised new questions about the path to a netzero economy – alongside concerns about the impact of inflation, disruption and transition on existing economic and social inequities.
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