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Finance (Miscellaneous Provisions) Act 2021

2021LegislativeMitigationMore details
Sectors: Economy-wide, Finance, Public Sector
This Act sets Mauritius' budget for the fiscal year 2021-2022. It amends existing legislation to insert climate-related clauses. It notably 1) grants to the Bank of Mauritius the ability to issue guidelines, directives, rules or instructions regarding the framework for the issue of sustainable bonds, including blue and green bonds (by amending the Bank of Mauritius Act), 2) improves the legal framework to support the production and use of renewable energy sources, including biomass.
Examples:
Resilient infrastructure, Fossil fuel divestment, Net zero growth plan, Sustainable fishing

Main document

Finance (Miscellaneous Provisions) Act 2021
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  • Set up 10 Gas Insulated Switchgear (GIS) substations to improve reliability and increase the share of renewable energy;Energy · Target year: 2030
  • Raise tenfold the absorption capacity of intermittent renewable energy through increased battery capacity to some 40 MW from the current 4 MWEnergy · Target year: 2030
  • phase-out all coal by 2030Energy · Target year: 2030
  • produce 60% of energy needs from green sources by 2030Energy · Target year: 2030

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The summary of this document was written by researchers at the Grantham Research Institute . If you want to use this summary, please check terms of use for citation and licensing of third party data.