Sovereign Green Bonds are likely to be issued during the January-March 2023 period of the current fiscal, Minister of State for Finance Pankaj Chaudhary said earlier this week. The objective of Sovereign Green Bonds is to mobilise resources for green infrastructure as part of the government's overall market borrowings in 2022-23, he said in a written reply in the Rajya Sabha. A sovereign green bond is a debt instrument issued by the central or state governments to borrow money from investors with the commitment that the mobilised fund will be spent on climate or eco-system related activities.'The framework for these bonds has been brought out. The bonds are likely to be issued from January to March 2023. The proceeds will be deployed in public sector projects which help in reducing carbon intensity of the economy,' he said.Green Bonds will help the government in tapping the requisite finance from potential investors for deployment in public sector projects aimed at reducing the carbon intensity of the economy.Earlier in October this year, a committee of experts on sustainable finance, constituted by the International Financial Services Centres Authority (IFSCA) at the GIFT City, submitted a report to the authority.The committee is headed by CK Mishra, former secretary of, ministry of environment, forest and climate change. Its main focus is to align the IFSCA regulations with international best practices.Some of the recommendations by the committee are sustainable green products, issuance of sovereign green bonds via IFSC, innovative sustainable finance products, voluntary carbon market, sustainable finance for micro small medium enterprises (MSMEs), enabling de-risking mechanisms, developing a voluntary carbon market and promoting green, said an official statement on October 6, 2022.