Dr. Patrick Moran:

Green budgeting in its broadest interpretation includes all the different elements of green expenditure or climate action, which are usually defined in a thing called the EU taxonomy, where there are six different dimensions to it. There is mitigation, which is the primary focus of the climate action plan, to reduce our greenhouse gas emissions. There is also adaptation, reducing pollution, the circular economy and a few more too. To date, our green budget tagging has been primarily around mitigation. It has been primarily focused on measures that decrease the amount of greenhouse gas emissions into the environment. We are working on a programme to expand that to track spending on adaptation measures, both positive and negative measures to do with restoration of biodiversity, and all the other six in the EU taxonomy.