SBI, Luxembourg Stock exchange sign MoU to promote green finance

"The MoU with the Luxembourg Stock Exchange will open up new avenues for market development and fundraising in the green bond market," Khara said.

The country's largest lender State Bank of India on Thursday said it has signed a memorandum of understanding (MoU) with the Luxembourg Stock Exchange (LuxSe) for setting up a long-term cooperation mechanism and promoting ESG (environmental, social, and corporate governance) and green finance

Through this MoU, LuxSe would work towards creating a sustainable environment for issuers, asset managers, and investors in terms of ESG focused funds and bonds, a press release said. Speaking about the development, SBI chairman Dinesh Khara said the bank has adopted sustainability as one of its core values

A 'Sustainability and Business Responsibility Policy' for the bank has been put in place and it has raised USD 800 million in the green bond market to date, he said. "The MoU with the Luxembourg Stock Exchange will open up new avenues for market development and fundraising in the green bond market," Khara said.