Mumbai, Nov 19 (PTI) The country's largest lender State Bank of India on Thursday said it has signed a memorandum of understanding (MoU) with the Luxembourg Stock Exchange (LuxSe) for setting up a long-term cooperation mechanism and promoting ESG (environmental, social, and corporate governance) and green finance.

Through this MoU, LuxSe would work towards creating a sustainable environment for issuers, asset managers, and investors in terms of ESG focused funds and bonds, a press release said.

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Speaking about the development, SBI chairman Dinesh Khara said the bank has adopted sustainability as one of its core values.

A 'Sustainability and Business Responsibility Policy' for the bank has been put in place and it has raised USD 800 million in the green bond market to date, he said.

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"The MoU with the Luxembourg Stock Exchange will open up new avenues for market development and fundraising in the green bond market," Khara said.

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