Adani Group stocks crash up to 23% after US indicts Chairman and 7 others on bribery charges
According to the United Sates Attorney's Office press release: Billionaire Chairman of Conglomerate and Seven Other Senior Business Executives Indicted in Connection With Scheme to Pay Hundreds of Millions of Dollars in Bribes and Conceal Bribery Scheme From U.S. Investors
More than $250 Million (around 2110 crore rupees ) in Bribes Promised to Indian Government Officials to Secure Solar Energy Contracts - In federal court in Brooklyn charging Gautam S. Adani, Sagar R. Adani and Vneet S. Jaain, executives of an Indian renewable-energy company (the Indian Energy Company (Adani Green Energy Limited )), with conspiracies to commit securities and wire fraud and substantive securities fraud for their roles in a multi-billion-dollar scheme to obtain funds from U.S.
What is a Green Bond?
A green bond is used to finance or refinance projects that contribute positively to the environment and/or climate..
Green bonds are issued exclusively to finance projects that positively impact the environment.
Green bonds are commonly used to finance the following types of projects:
- Energy efficiency projects
- Renewable energy projects
- Pollution prevention and control projects
- Natural resources and land management projects
- Clean transportation projects
- Wastewater and water management projects
- Green building projects
Advantages of Green Bonds
Green bonds may offer tax incentives (depending on the issuer and jurisdiction), such as tax exemption and tax credits. It is done to attract investors to finance projects that benefit the environment and/or climate.
Key Fact :
India has set a net zero pollution target for 2070 : Prime Minister Narendra Modi announced India's net zero target at the 26th Conference of Parties (COP-26 2021) in Glasgow.
