NSE IFSC Ltd, a subsidiary of the National Stock Exchange (NSE), on Friday announced the launch of an international sustainability platform at GIFT City in Gujarat, which is anticipated to go live in the second half of the year.

The NSE IFSC said in a statement that this is India's first ESG (environmental, social, and governance) platform. The platform will allow for the listing and trading of a range of sustainability products, such as green bonds, voluntary carbon, sustainable bonds, green real estate investment trusts (REITs), and green equities, as well as channelling sustainable capital to India and other markets.

International investors will be able to engage in ESG changes in India and other markets if it is located in GIFT City. "It is projected to go live in the second half of 2022, subject to regulatory approvals,"  NSE IFSC said.

Issuers wishing to list on the platform will be required to achieve a minimum set of environmental, social, and governance (ESG) standards, as well as the NSE IFSC's specific criteria for the sustainability products they intend to list.

Large corporations, small and medium businesses, and startups, as well as non-profits and social impact groups, as well as government and quasi-government entities, are expected to use the platform to leverage and attract financing to fulfil their climate and ESG goals. To ensure transaction integrity, speed, tracking, and traceability, the sustainability platform will leverage Distributed Ledger Technology (DLT) or Blockchain.

"At GIFT City, we are committed to establishing an international sustainability platform." said Vikram Limaye, Managing Director and CEO of NSE, "such a trading platform can play an essential role in channelling capital that will be required in ESG and sustainability transitions around the globe."

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