India, Oct. 30 -- As India prepares its climate finance roadmap ahead of COP30, a new report by the Centre for Social and Economic Progress (CSEP) has urged the government to ensure its proposed Climate Finance Taxonomy Framework becomes a "practical, inclusive, and dynamic policy tool", rather than a rigid compliance exercise.

The report, Global Climate Finance Taxonomy: Lessons for India, authored by Renu Kohli and Kritima Bhapta, argues that India's draft taxonomy could be pivotal in unlocking climate-aligned investments, but only if it avoids the pitfalls seen in global frameworks.

By analysing models from the EU, ASEAN, China, South Africa, Indonesia, and Singapore, the report identifies common shortcomings India must steer clear o...