{"id":305505,"date":"2024-07-25T18:43:26","date_gmt":"2024-07-25T13:13:26","guid":{"rendered":"https:\/\/forumias.com\/blog\/?p=305505"},"modified":"2024-07-25T18:43:26","modified_gmt":"2024-07-25T13:13:26","slug":"climate-finance-taxonomy","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/climate-finance-taxonomy\/","title":{"rendered":"Climate Finance Taxonomy"},"content":{"rendered":"<p>Source- This post on the<strong> Climate Finance Taxonomy<\/strong> has been created based on the article <a href=\"https:\/\/indianexpress.com\/article\/explained\/everyday-explainers\/climate-finance-taxonomy-9470655\/\" target=\"_blank\" rel=\"noopener\">\u201cWhat is a climate finance taxonomy, announced by FM Sitharaman?\u201d<\/a> published in \u201cIndian Express\u201d on 25 July 2024.<\/p>\n<div class=\"content user-select-text\" role=\"heading\" aria-label=\"Sent by Copilot: The **Global Conclave on Plastic Recycling and Sustainability (GCPRS)** is currently underway at the **Bharat Mandapam, Pragati Maidan** in Delhi. This four-day event brings together experts from India and abroad to address pressing concerns related to plastic waste management, recycling, and sustainability. The conference aims to promote circularity and discuss innovative solutions for a more sustainable future. Notable attendees include Secretary of the Union Ministry of Chemicals and Fertilizers, **Smt. Nivedita Shukla Verma**, and Joint Secretary of the Union Ministry of Micro, Small and Medium Enterprises, **Smt. Mercy Epao**[^1^] [^3^]. Topics covered include advances in biodegradable plastics, circular economy principles in waste management, and policy frameworks affecting plastics use and recycling[^2^]. Let me know if you need more information! \ud83d\ude0a\">\n<div class=\"ac-container ac-adaptiveCard has-image\">\n<div class=\"ac-textBlock\">\n<h2>Why in the news?<\/h2>\n<\/div>\n<\/div>\n<\/div>\n<p>The Union Budget for 2024-25 included an announcement by the finance minister about developing a \u2018climate finance taxonomy\u2019 in India.<\/p>\n<h2>About Climate Finance Taxonomy:<\/h2>\n<p><strong>1. About:<\/strong> It is a system that classifies which parts of the economy can be marketed as sustainable investments.<\/p>\n<p><strong>2. Purpose:<\/strong> To guides investors and banks in channeling funds toward impactful investments to combat climate change.<\/p>\n<p><strong>3. Uses:<\/strong> To sets standards for climate-related financial instruments (like green bonds) and serves in climate risk management, net-zero transition planning, and climate disclosure.<\/p>\n<p><strong>4. Global Examples:<\/strong> Countries like South Africa, Colombia, South Korea, Thailand, Singapore, Canada, Mexico, and the European Union have developed their own taxonomies.<\/p>\n<p><strong>5. Significance:<\/strong><\/p>\n<p><strong>i) Net-Zero Economy:<\/strong> It helps countries transition to a net-zero economy, balancing the production and removal of greenhouse gases (GHG).<\/p>\n<p><strong>ii) Alignment with Science:<\/strong> It ensures economic activities align with credible, science-based transition pathways.<\/p>\n<p><strong>iii) Climate Capital Deployment:<\/strong> It encourages the flow of funds toward climate adaptation and mitigation.<\/p>\n<p><strong>iv) Greenwashing Prevention:<\/strong> It reduces the risk of misleading claims about environmental benefits (greenwashing).<\/p>\n<p><strong>v) Capital Availability: <\/strong>It increases capital for climate initiatives, aiding India in meeting its climate commitments and green transition goals.<\/p>\n<p><strong>UPSC Syllabus: Environment<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source- This post on the Climate Finance Taxonomy has been created based on the article \u201cWhat is a climate finance taxonomy, announced by FM Sitharaman?\u201d published in \u201cIndian Express\u201d on 25 July 2024. Why in the news? The Union Budget for 2024-25 included an announcement by the finance minister about developing a \u2018climate finance taxonomy\u2019&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/climate-finance-taxonomy\/\">Continue reading <span class=\"screen-reader-text\">Climate Finance Taxonomy<\/span><\/a><\/p>\n","protected":false},"author":10366,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,4182],"tags":[11872,10500],"class_list":["post-305505","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-environment","tag-9pm-daily-factly","tag-indian-express","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/305505","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10366"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=305505"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/305505\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=305505"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=305505"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=305505"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}