International
Financial Services Centres Authority (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.
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
GIFT- IFSC as a global hub for sustainable finance thereby acting as a gateway for
channelizing foreign capital into India.
IFSCA,
in its endeavour to develop the required eco-system has
constituted an Expert Committee to recommend approach towards development of Sustainable
Finance Hub and provide road map for the same. The expert committee is being chaired
by C.K. Mishra, Former Secretary to Government of India, Ministry of Environment,
Forest & Climate Change. The committee consists of
leaders across the sustainable finance spectrum, including international agencies,
standard setting bodies, funds, academia, and consultancies.
The constitution
of the committee can be accessed through the following weblink:
https://ifsca.gov.in/IFSCACommittees
|
Sr.
No. |
Name |
Designation |
Capacity |
|
1 |
Shri
C.K. Mishra |
Former
Union Secretary to Government of India, Ministry of Environment, Forest &
Climate Change |
Chair |
|
2 |
Mr.
Sujoy Bose |
MD
& CEO of the National Investment and Infrastructure Fund of India |
Member |
|
3 |
Prof.
Amit Garg |
Professor,
IIM Ahmedabad |
Member |
|
4 |
Mr.
Sean Kidney |
Chief
Executive Officer, Climate Bond Initiative |
Member |
|
5 |
Mr.
Stephen Nolan |
Managing
Director, Financial Centres for Sustainability
(FC4S) Network |
Member |
|
6 |
Mr.
Prathmesh Raichura |
Partner,
Climate Change and Sustainability Services, KPMG in India |
Member |
|
7 |
Ms.
Namita Vikas |
Founder
and Managing Director, auctusESG |
Member |
|
8 |
Mr.
Arunabha Ghosh |
CEO,
Council on Energy, Environment and Water (CEEW) |
Member |
|
9 |
Mr.
V Balasubramaniam |
MD
& CEO India International Exchange (IFSC) Limited (India INX) |
Member |
|
10 |
Mr.
Manoj Kumar |
Executive
Director, IFSCA |
Member
Secretary |
I.
To study the current
regulatory practices in Sustainable Finance across major International financial
jurisdictions and recommend a robust framework to develop a world-class sustainable
finance hub at IFSC.
II.
To identify existing
and emerging opportunities in Sustainable Finance for GIFT-IFSC to act as a gateway
to meet India’s requirements.
III.
To recommend a short,
medium, and long-term vision/roadmap on sustainable finance.
IV.
The Committee may also
examine and address any other issues which are important though not specifically
mentioned in ToR. The Committee may devise its own procedures
for conducting its business/meetings/field visits/ constitution of subgroups etc.
V.
The Committee would
submit its report along with recommendations within 3 months from the date of holding
its first meeting.