The government will develop a taxonomy for climate finance, Union Finance Minister Nirmala Sitharaman said in her Budget speech, in New Delhi on July 23, 2024. File (representational image)
| Photo Credit: AP

The government will develop a taxonomy for climate finance to help improve the availability of funds for adapting to climate change and reduce greenhouse gas emissions, Union Finance Minister Nirmala Sitharaman said during her Union Budget 2024-25 presentation in the Parliament on July 23.

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This will support achievement of the country’s climate commitments and green transition, she said while presenting the Budget for 2024-25 in the Lok Sabha.

She also said that the government will prepare a roadmap for moving hard-to-abate sectors, such as shipping, aviation, iron and steel and chemicals, from energy efficiency targets to emissions targets.