Green Bonds as Emerging instruments for Biodiversity finance: Evidence from india

Abstract

This study examines the effectiveness of green bonds as a mechanism for supporting biodiversity finance in India. Using a quantitative research approach, the analysis is based entirely on secondary data collected from the Securities and Exchange Board of India (SEBI) website, which provides detailed information on all green bond issuances in the country. A secondary data review and systematic data tabulation were used to categorize bonds by project type and to determine their direct or indirect contribution to biodiversity-related initiatives. The findings show that India has issued 29 green bonds to date, collectively mobilizing ₹9,023 crore. Overall, biodiversity-linked green bonds account for ₹1,475 crore, representing approximately 16% of the total capital raised. These results highlight the emerging yet significant role of green bonds in strengthening biodiversity finance in India. This work significantly adds to the corpus of existing knowledge.