Towards Sustainable Finance: Strengthening the Credibility of Green Bonds

In this article, the author delves into the dynamic realm of green bonds, a form of debt instrument dedicated to funding environmentally beneficial projects. The escalating global focus on sustainability has propelled the green bond market to exceed $700 billion, gaining steady traction from issuers and investors. India’s recent foray into this market, marked by its inaugural Sovereign Green Bond in 2023, underscores the nation’s commitment to sustainable finance. Despite these advancements, concerns over “greenwashing” prompt regulatory action. The Securities and Exchange Board of India (SEBI) has introduced stringent regulations, aiming to enhance transparency and accountability. The article scrutinizes SEBI’s initiatives, addresses their limitations, and proposes innovative solutions for fostering a robust green bond market in India. Through meticulous implementation, India can bolster its commitment to sustainability while navigating potential challenges. Continue reading Towards Sustainable Finance: Strengthening the Credibility of Green Bonds

The RMLNLU Law Review BlogAugust 28, 2023August 31, 2023Leave a comment

Arbitration

Strengthening the Enforceability of Consent Awards in Arbitration: Rethinking Grounds for Set-Aside

In this article, the author discusses the concept of “consent awards” in the context of arbitration proceedings in India. These awards are issued when parties in dispute agree to settle on specific terms, leading to the arbitral tribunal passing an award based on these agreed terms. He considers whether there should be an alternative procedure for challenging such awards, different from the procedure for challenging regular arbitral awards. While acknowledging the necessity of allowing some form of recourse against consent awards, the author argues for narrowing down the grounds for setting them aside. The author highlights recent developments, including a Delhi High Court judgment emphasizing the enforceability of foreign consent awards, and the establishment of an expert committee to reform arbitration laws. The ultimate goal is to minimize unnecessary judicial intervention, strengthen the enforcement of consent awards, and uphold the sanctity of settlements reached through arbitration. Continue reading Strengthening the Enforceability of Consent Awards in Arbitration: Rethinking Grounds for Set-Aside

The RMLNLU Law Review BlogAugust 28, 2023August 28, 2023Leave a comment