State Bank of India (SBI) has signed a memorandum of understanding (MoU) with the Luxembourg Stock Exchange (LuxSe). The MoU will help SBI and LuxSE set up a long-term cooperation mechanism, and promote ESG (Environmental, Social, and Corporate Governance) and green finance.
Through this MoU, the Luxembourg Stock Exchange would work towards creating a sustainable environment for issuers, asset managers, and investors in terms of ESG focused funds and bonds, according to an official release.
Dinesh Khara, chairman, SBI said: "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 SBI was the first Public Sector Bank in India to publish its Sustainability Report as per Global Reporting Initiative (GRI) framework."
"State Bank of India has raised $800 Mio in the Green Bond Market to date. The MoU with the Luxembourg Stock Exchange will open up new avenues for market development and fundraising in the green bond market," Mr Khara added.