Gandhinagar, April 18 -- The International Financial Services Centres Authority (IFSCA) has established a standing committee to develop a framework for launching climate finance products, as part of efforts to transform Gujarat International Finance Tec-City (GIFT City) into a "climate finance hub."

"Sustainable finance is going to be our biggest agenda. It is a much bigger and challenging agenda," said K. Rajaraman, Chairman of the IFSCA, the unified regulator for international financial services in India.

The committee is tasked with submitting a report to the government by the end of May 2024 on transitioning GIFT City into a climate finance centre.

Potential products under consideration include climate-focused alternative investmen...