The Economic Coordination Committee (ECC) of the Cabinet on Friday approved Pakistan’s Green Taxonomy, as proposed by the Ministry of Climate Change and Environmental Coordination, in a “major step towards environmental sustainability”.

“The chair appreciated the initiative, noting that it was long overdue and would play a vital role in facilitating access to financing for green projects in the country,” a statement issued by the Finance Division read.

During a meeting of the Senate Standing Committee on Climate Change and Environmental Coordination in March, State Bank Governor Jameel Ahmad said the taxonomy will allow financial and non-financial companies to share a common definition of economic activities that can be considered environmentally sustainable.

The statement issued today noted that the ECC meeting was held under the chairmanship of Finance Minister Muhammad Aurangzeb to deliberate on a range of important agenda items concerning industrial growth, environmental policy, skill development, housing finance, and telecommunications.

The meeting was attended by Federal Minister for Power Sardar Awais Ahmed Khan........

© Dawn Business