On the basis of given text and common understanding, answer the following questions : (a) Define sustainable development. (b) State the public project areas, where Sovereign Green Bond are focussed. (c) How can businesses get benefit from green finance ?

Question

Accepted Answer

Based on the passage about green finance:

(a) **Sustainable Development:** Development that meets the needs of the present without compromising the ability of future generations to meet their own needs. It involves balancing economic growth with environmental protection and social equity.

(b) **Public project areas where Sovereign Green Bonds are focused:**

1. **Renewable Energy Projects:** Solar, wind, and other clean energy installations
2. **Energy Efficiency Programs:** Building retrofits, smart grid development
3. **Sustainable Transport:** Electric vehicles, public transit systems
4. **Clean Water and Sanitation:** Water treatment, wastewater management
5. **Affordable Sustainable Housing:** Green building construction

The Indian government has identified projects worth Rs. 25,000 crore that will be financed through green bonds to achieve the target of reducing carbon intensity by 45% by 2030.