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Draft Climate Finance Taxonomy of India
May 11 , 2025
16 hrs 0 min
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- Ministry of Finance released the draft framework of ‘India’s Climate Finance Taxonomy’.
- It was covering sectors including power, mobility, buildings, agriculture, and hard-to-abate sectors such as iron and steel, and cement, among others.
- The taxonomy will emphasise adaptation and building resilience to ensure that developmental gains are not adversely impacted.
- The new document will classify activities and projects by two categories, including “climate-supportive,” and “transition supportive.”
- India has set a series of climate goals, including a target to achieve net zero emissions by 2070.
- Its interim target is reducing emissions intensity of economy by 45% by 2030.
- Additionally, India has set an ambition to transition to approximately 50% electric power from non-fossil-based sources by 2030.
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