Climate change has been recognised as one of the most critical challenges faced by the global society and economy in the 21st century. The financial sector can play a pivotal role in mobilizing resources and their alloca

The impact indicators identified under the Green activities/projects along with the unit of measure are as follows: Renewable Energy: Total renewable capacity (in MWh). Energy generated per year (MWh). Greenhouse Gas (GHG) emissions avoided per year (measured in tonnes CO2 equivalent, tonnes of carbon dioxide equivalent (tCO2e)). Waste Management: Waste diverted from landfill per year (tonnes). Clean Transportation: GHG emissions avoided per year (tCO2e). New clean transportation infrastructure built (km). Number of electric or low emission vehicles produced. Energy Efficiency: Energy savings per year (MWh). GHG emissions avoided per year (tCO2e). Afforestation / Reforestation: GHG emissions reduced/Carbon Sequestration achieved (measured in tCO2e). It is expected that the Regulated Entities shall ensure that the funds raised through green deposits are allocated to the eligible green activities/projects. The allocation of funds raised through green deposits by Regulated Entities (REs) during a financial year shall be subject to an independent Third-Party Verification/Assurance which shall be done on an annual basis. The third-party assessment would not absolve the RE of its responsibility regarding the end-use of funds for which the laid down procedures of internal checks and balances would have to be followed as in the case of other loans. The related terms and conditions to be additionally fulfilled by the borrowers to meet the requirements of the framework laid out would be the additional check points while ascertaining the end-use of funds.