Emerging economies, such as India, will need significant international investment in climate action in order to transition toward a future that is low-carbon and climate-resilient. India needs fossil fuels at an affordable price and needs to protect itself against price fluctuations. It can meet these needs by investing in Canadian oil companies, given the country’s political stability and rule of law. As an emerging economy, India could attract greater foreign direct investment into its economy through green bonds, a climate finance debt instrument that addresses environmental and climate-related challenges. Not only are green bond issuances linearly increasing over the years, but they also seem to be driven by institutional pressure, provided in part by the Securities and Exchange Board of India’s regulation, as well as by the informal advocacy efforts of market stakeholders. These findings are consistent with institutional theory and contribute to it by introducing the regulatory perspective of the green bond market.
Part of Series
Canada-India Track 1.5 Dialogue is a collaboration between CIGI and Gateway House: Indian Council on Global Relations.
The Canada-India Track 1.5 Dialogue works jointly on multilateral issues and identifies areas where improved cooperation could benefit both countries. To address these challenges, the papers produced under this partnership will help to develop policy recommendations to promote innovation and navigate shared governance issues that are integral to the continued growth of Canada-India bilateral relations.
The Canada-India Track 1.5 Dialogue works jointly on multilateral issues and identifies areas where improved cooperation could benefit both countries. To address these challenges, the papers produced under this partnership will help to develop policy recommendations to promote innovation and navigate shared governance issues that are integral to the continued growth of Canada-India bilateral relations.
