INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA
Circular REF: IRDAI/INV/CIR/16/01//2023 Dated: January 13, 2023
Sub: Sovereign Green Bonds (SGrBs) — Categorisation and Classification
The Government of India, with the objective of reducing the carbon intensity of the economy and as a measure for achieving Nationally Determined Contribution (NDC) under the Paris Climate Change Accord, 2015 connected to climate change, mitigation, adaptation, finance and preservation of environment, has proposed to issue Sovereign Green Bonds (SGrBs) in Budget 2022-23.
With the objective of de-concentration and diversification of the infrastructure investment portfolio of the insurers and from the perspective of participation in Environmental, Social and Governance (ESG) initiatives and for proactive participation in sustainable development and in preventing environment degradation, insurers are encouraged to consider investing in Sovereign Green Bonds.
Investment in Sovereign Green Bonds shall be treated as “Investment in Infrastructure” and shall be classified as “Central Government Securities” under the following Category Code:
| No. | Investment Category Heads | CAT Code |
| A05 | Sovereign Green Bonds | CSGB |
(Ammu Venkataramana)
GM (F & I)
