NSE’s index services subsidiary, NSE Indices Limited today launched India’s first ever Sovereign Green Bond indices. These indices, namely, Nifty India Sovereign Green Bond Jan 2028 Index and Nifty India Sovereign Green Bond Jan 2033 Index, follow target maturity date structure.
The Nifty India Sovereign Green Bond Jan 2028 Index has a maturity date of January 31, 2028. It includes Government securities (G-Secs) issued under the category of Sovereign Green Bonds (SGrBs) maturing during the six-month period ending January 31, 2028.
The Nifty India Sovereign Green Bond Jan 2033 Index has a maturity date of January 31, 2033. It includes Government securities (G-Secs) issued under the category of Sovereign Green Bonds (SGrBs) maturing during the twelve month period ending January 31, 2033.
Mukesh Agarwal, CEO – NSE Indices, said, “The Nifty India Sovereign Green Bond indices are first of its
kind as they seek to capture the performance of Indian Sovereign Green Bonds that finance green
infrastructure. The two indices follow target maturity date structure maturing in 2028 and 2033. As per
Government of India (GoI), the proceeds from Sovereign Green Bonds will be deployed in public sector
projects which will help in reducing the carbon intensity of the economy. These indices are expected to act as a benchmark for asset managers and be a reference index tracked by passive funds in form of Exchange Traded Funds (ETFs), index funds and structured products, which can provide fixed income investors efficient and cost-effective access to the Indian sovereign green bond market while making a positive impact on the society.”
Both indices have base date of January 27, 2023, and a base value of 1000. The indices will be reviewed
monthly.
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