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Gujarat’s Green Milestone: AMC Issues ₹200 Crore Green Bonds for Sustainable Development

Gujarat: Ahmedabad Municipal Corporation (AMC) achieved a significant milestone under the leadership of Chief Minister Bhupendra Patel with the successful issuance of ₹200 crore green bonds, a first for Gujarat. The funds raised through this initiative, which were oversubscribed, will fuel eco-friendly projects aimed at fostering sustainable development across the city.

CM Bhupendra Patel expressed his enthusiasm, stating, “Participating in the listing of ₹200 crore green bonds of Ahmedabad Municipal Corporation in the Bombay Stock Exchange is a momentous occasion. This marks Gujarat’s maiden venture into issuing green bonds, reflecting our commitment to environmental stewardship and sustainable growth.”

“Highlighting the importance of these green bonds in realizing Prime Minister Narendra Modi’s ambitious target of achieving net zero carbon emissions by 2070, CM Patel emphasized the necessity of sustainable development alongside environmental preservation. “The promotion of nature is integral to our journey towards a greener future”. Through projects such as sewage water treatment, renewable energy generation, and zero liquid discharge, AMC’s green bonds will play a pivotal role in advancing the Prime Minister’s vision,” he added.

The overwhelming response from institutional investors, leading to oversubscription of the bonds, underscores the confidence in Gujarat’s commitment to green initiatives. CM Bhupendra Patel commended AMC for this success, hailing it as a significant achievement in the municipal bond market.

“The issuance of these green bonds not only signifies Gujarat’s proactive approach towards environmental sustainability but also sets a commendable example for other regions to follow. It represents a concerted effort towards building a more resilient and eco-conscious future, aligning with global efforts to combat climate change and secure a greener tomorrow for generations to come”.

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