New taxonomy on what counts as climate finance to be released in Aug

India will launch its own system this month to identify which investments qualify as climate finance, said two people familiar with the matter, providing vital clarity to mobilize capital for clean energy and net-zero goals.

- Rhik Kundu

The final climate finance taxonomy will identify the assets, activities, and projects needed to deliver a low-carbon economy consistent with the Paris Agreement goals of mitigation, adaptation, and financing commitments.

"The consultation process, with inputs from experts, academia, industry, global institutions, and government departments, is now complete. Comments were received by June-end," the first of the two people cited above said, requesting anonymity. "The comprehensive taxonomy for climate finance is ready for launch in August."