Review of Chapter IX – Green Debt Securities of the Operational Circular for issue and listing of Non-Convertible Securities (NCS), Securitised Debt Instruments (SDI), Security Receipts (SR), Municipal Debt Securities and Commercial Paper (CP) dated August 10, 2021 (hereinafter referred to as the ‘NCS Operational Circular’), as amended from time to time - SEBI - SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/023

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..... ities with the updated Green Bond Principles (GBP) recognised by IOSCO, SEBI undertook a review of the regulatory framework for green debt securities. 3. Accordingly, the Chapter IX of the NCS Operational Circular shall be replaced with the following: “ Initial disclosure requirements for issue and listing of green debt securities 1. An issuer desirous of issuing green debt securities shall make the following additional disclosures in the offer document for public issues / private placements: 1.1 A statement on environmental sustainability objectives of the issue of green debt securities; 1.2 Brief details of decision-making process followed/proposed for determining the eligibility of project(s) and/or asset(s), for which the proceeds are being raised through issuance of green debt securities, such as: a) Process followed/ to be followed for determining how the project(s) and/or asset(s) fit within the eligible green projects categories as defined under Regulation 2 (1) (q) of NCS Regulations, b) The criteria making the project(s) and/ or asset(s) eligible for using the green debt securities proceeds; and c) Details of taxonomies, green standards or certifications both Indian .....

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Review of Chapter IX – Green Debt Securities of the Operational Circular for issue and listing of Non-Convertible Securities (NCS), Securitised Debt Instruments (SDI), Security Receipts (SR), Municipal Debt Securities and Commercial Paper (CP) dated August 10, 2021 (hereinafter referred to as the ‘NCS Operational Circular’), as amended from time to time - SEBI

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..... the issuer using the internal process as disclosed in offer document. Utilisation of the proceeds shall be verified by the report of an external auditor, to verify the internal tracking method and the allocation of funds towards the project(s) and/or asset(s), from the proceeds of green debt securities. 2.2 Details of unutilized proceeds including the temporary placement/utilization of unallocated and unutilized proceeds from each ISIN of green debt security issued by the issuer. 2.3 The following additional disclosures shall be made in the Annual Report: a) List of project(s) and/or asset(s) to which proceeds of the Green Debt Securities have been allocated/invested including a brief description of such project(s) and/or asset(s) and the amounts disbursed. b) Qualitative performance indicators and, where feasible, quantitative performance measures of the environmental impact of the project(s) and/or asset(s). If the quantitative benefits/impact cannot be ascertained, then the said fact may be appropriately disclosed along with the reasons for non-ascertainment of the benefits/impact on the environment c) Methods and the key underlying assumptions used in preparation of the perfor .....

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..... r shall come into force for all issues of green debt securities launched on or after April 1, 2023. 5. The Circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 read with Regulation 55 (1) of the SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021, to protect the interest of investors in securities and to promote the development of, and to regulate the securities market. 6. This Circular is available at www.sebi.gov.in under the link “Legal→Circulars”. Yours faithfully, Pradeep Ramakrishnan General Manager Department of Debt and Hybrid Securities +91-22-26449246 pradeepr@sebi.gov.in Annex I Format for disclosure of major elements of BRSR Essential Indicators Details of total energy consumption (in Joules or multiples) and energy intensity, in the following format: Parameter FY _____ (Current Financial Year) FY ______ (Previous Financial Year) Total electricity consumption (A) Total fuel consumption (B) Energy consumption through other sources (C) Total energy consumption (A+B+C) Energy intensity per rupee of turnover (Total energy consumption/ turnover in rupees) Energ .....

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..... ric tonnes of CO2 equivalent Total Scope 1 and Scope 2 emissions per rupee of turnover Total Scope 1 and Scope 2 emission intensity (optional) - the relevant metric may be selected by the entity Note: Indicate if any independent assessment/ evaluation/assurance has been carried out by an external agency? (Y/N) If yes, name of the external agency. 7. Does the entity have any project related to reducing Green House Gas emission? If Yes, then provide details. 8. Provide details related to waste management by the entity, in the following format: Parameter FY _____ (Current Financial Year) FY ______ (Previous Financial Year) Total Waste generated (in metric tonnes) Plastic waste (A) E-waste (B) Bio-medical waste (C) Construction and demolition waste (D) Battery waste (E) Radioactive waste (F) Other Hazardous waste. Please specify, if any. (G) Other Non-hazardous waste generated (H). Please specify, if any. (Break-up by composition i.e. by materials relevant to the sector) Total (A+B + C + D + E + F + G + H) For each category of waste generated, total waste recovered through recycling, reusing or other recovery operations (in metric tonnes) Category of waste (i) Recycled (ii) Re-used (ii .....

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..... (A) Total fuel consumption (B) Energy consumption through other sources (C) Total energy consumed from renewable sources (A+B+C) From non-renewable sources Total electricity consumption (D) Total fuel consumption (E) Energy consumption through other sources (F) Total energy consumed from non-renewable sources (D+E+F) Note: Indicate if any independent assessment/ evaluation/assurance has been carried out by an external agency? (Y/N) If yes, name of the external agency. Provide the following details related to water discharged: Parameter FY _____ (Current Financial Year) FY ______ (Previous Financial Year) Water discharge by destination and level of treatment (in kilolitres) (i) To Surface water - No treatment - With treatment - please specify level of treatment (ii) To Groundwater - No treatment - With treatment - please specify level of treatment (iii) To Seawater - No treatment - With treatment - please specify level of treatment (iv) Sent to third-parties - No treatment - With treatment - please specify level of treatment (v) Others - No treatment - With treatment - please specify level of treatment Total water discharged (in kilolitres) Note: Indicate if any independent assessme .....

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