On Thursday, Chief Minister Mr. Bhupendra Patel performed the ceremonial bell-ringing at the Mumbai National Stock Exchange (NSE), marking the historic listing of Surat Municipal Corporation’s Municipal Green Bond worth Rs. 200 crore. The event was graced by Mayor Mr. Daxesh Mavani and other dignitaries.
The green bond issue attracted overwhelming interest, with subscriptions exceeding Rs. 800 crore – eight times the targeted amount – underscoring investor confidence in Surat’s sustainable development initiatives.
Aligning with National and Global Sustainable Development Goals
Mr. Patel highlighted how this green bond initiative aligns with Prime Minister Mr. Narendra Modi’s vision of a net-zero carbon footprint by 2070 and Gujarat’s roadmap for Viksit Gujarat @2047. He emphasized that the green bond reflects the synergy between ecology and economy, a balance India has been striving to maintain under PM Modi’s leadership, especially during India’s G20 presidency promoting “One Earth, One Family, One Future.”
Surat: A National Model for Cleanliness, Green Mobility, and Public Participation
The Chief Minister praised Surat Municipal Corporation for pioneering India’s first publicly issued municipal green bond with international certification, a move that attracted significant global investor interest. He credited the city’s effective urban planning combined with active citizen participation as key factors in Surat’s rise as a model of cleanliness and green mobility across the nation.
Mayor Mr. Mavani echoed these sentiments, emphasizing Surat as a microcosm of India’s progress and a shining example of sustainable development.
Green Bonds Fueling Sustainable Urban Growth and Environmental Conservation
Surat Municipal Corporation’s green bonds will fund projects in solar power, water conservation, and green transportation. Municipal Commissioner Ms. Shalini Agarwal confirmed that the funds will be strategically used to drive environmental conservation and green energy initiatives, positioning Surat at the forefront of sustainable urban development in India.
Support and Recognition from National and Financial Institutions
Mr. Ashish Chauhan, Managing Director of NSE, congratulated the Gujarat government and Surat Municipal Corporation on this landmark achievement. Other notable attendees included Government of India’s Mr. Sujit Singh, dignitary Mr. N.K. Mehta, and Chief Minister’s Secretary Mr. Vikrant Pandey.
