Published Online:July 2026
Product Name:The IUP Journal of Law Review
Product Type:Article
Product Code:IUPLR050726
DOI:10.71329/IUPLR/2026.16.3.56-66
Author Name:Renu Jonwall
Availability:YES
Subject/Domain:Law
Download Format:PDF
Pages:56-66
This paper analyzes India’s newly launched ESG Debt Securities Framework, 2025, identifying the key features, comparing the international standards with the Indian framework, and presenting the key characteristics of India’s very first ESG bond. The research is analytical in nature and is based on secondary sources. Specifically, the Securities and Exchange Board of India (SEBI) ESG debt Securities Framework 2025 and the L&T press release were analyzed and explained. This framework serves as the foundational document for issuing ESG debt securities and for monitoring their performance. These guidelines cover almost all aspects of international standards, such as the ICMA Green Bond Principles. These guidelines will promote transparency, accountability, and integrity among issuers. Under the framework, disclosures before issuance and reporting after the issuance of ESG debt securities are mandatory. This framework is expected to shift the Indian ESG market from an issuer-claim-based approach to a certified and verifiable information-based market. This paper contributes to the literature on ESG Debt Securities and will be useful for researchers and academicians working in the field of socially responsible investing, ESG, and sustainable finance.
India, being a densely inhabited country, requires a transition toward a green economy and the attainment of net zero emissions by 2070. For this purpose, there must be consistent growth in sustainable finance.