New Delhi: International Financial Services Centres Authority (IFSCA) has constituted an expert committee to recommend approach towards development of sustainable finance hub and provide road map for the same, an IFSCA release stated here today.
The expert committee is chaired by C.K. Mishra, Former Secretary to Government of India. The committee consists of leaders across the sustainable finance spectrum, including international agencies, standard setting bodies, funds, academia, and consultancies.
IFSCA has been established as a unified regulator to develop and regulate financial products, financial services, and financial institutions in the International Financial Services Centres (IFSCs) in India.
Since India aspires to be a frontrunner in climate action, which is evident in its commitment towards its intended Nationally Determined Contributions under Paris Agreement, raising financial resources for climate change adaptation and mitigation actions of this scale needs active participation of international investors. IFSCA envisions Gujarat International Finance Tec-City (GIFT)- IFSC as a global hub for sustainable finance thereby acting as a gateway for channelizing foreign capital into India.
– global bihari bureau