Indore: CM Shivraj Singh Chouhan rings bell listing IMC green bonds in NSE; 5 more cities to be listed in next – Free Press Journal

Indore (Madhya Pradesh): Chief Minister Shivraj Singh Chouhan rung the bell at Ringing ceremony held for listing of green bonds of Indore Municipal Corporation (IMC) in National Stock Exchange (NSE) at Kushabhau Thakre Hall (Minto Hall), Bhopal, on Tuesday.
Indore is the first city in the country to get bonds listed on the NSE.  The CM said, “We have to achieve this target in five more cities this year. Through our commitment towards better financial management, administrative efficiency and development of the state, we will achieve it in the next 8-10 months. Funds from bonds will lend impetus to cities’ development.”
The CM said that inclusion of CNG buses and electric buses in Indore city bus service, 126 charging stations to encourage electric vehicles, installation of plant for disposal of city’s wet waste and use of its bio CNG for operation of city buses are some of the good steps taken by the IMC. Development of 100 Ahilya Vans, 4 Nagar Vans and plantation of saplings on city’s trenching ground has helped IMC earn four lakh carbon credits by reducing carbon emissions.
The CM said the IMC earned Rs 9 crore by trading in global market. The business model created by the IMC to prevent carbon emissions and earn carbon credits would encourage others to go for innovation. This was also indicative of the fact that credibility and trust ensures that there was no shortage of money, he added.
With a view to reduce the expenditure on electricity for bringing water from Jalud water plant in Khargone to Indore city, the IMC has set up a 60 MW solar power plant in Jalud. For the purpose of raising financial resources for its implementation, the IMC decided to collect funds by issuing public issue of green bonds.
Indore should move towards becoming a solar city
The CM announced that Sanchi will become country’s first solar city on International Solar Day on May 3. He then asked IMC officials, mayor and Indore MP to pledge to turn Indore too into a solar city. “Indore has the capability to implement such challenges and innovations,” he said and added that Indore should move forward in this direction by talking to the public and making necessary provisions and arrangements.
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