New Delhi, Feb. 17 -- India's climate policy has entered a decisive phase. The country must sustain rapid economic growth while managing mounting climate risks that threaten infrastructure, agriculture, energy security and urban resilience.

Over the past year, policymakers have accelerated mitigation and adaptation initiatives, reinforced by climate-related provisions in the recent budget, which expanded allocations for renewable energy (RE), grid integration, storage, clean-technology deployment and climate-resilient infrastructure, alongside fiscal arrangements under the 16th Finance Commission (FC).

A draft Climate Finance Taxonomy was also prepared, aimed at mobilizing private capital for the energy transition; official documents st...