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Green taxonomy: More resources will flow to climate-friendly projects
Business Standard Editorial Comment Mumbai
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As India faces a mounting climate challenge, access to finance, advanced technologies, and critical mineral resources assumes greater importance. The draft 'Climate Finance Taxonomy', recently released by the Department of Economic Affairs, Ministry of Finance, comes in as a much-needed framework during these critical times. Given the increased climate vulnerability, particularly in sectors like agriculture and water resources, and the need to increase per capita energy consumption from a paltry 16.7 gigajoules (GJ) in 2022-23 to 45.7-75 GJ per year, India needs a cumulative $2.5 trillion to meet its Nationally Determined Contributions (NDC) targets till 2030. But at the same
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