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India unveils draft climate finance taxonomy and prepares first adaptation plan

The new framework is designed to channel finance into adaptation projects ahead of India’s first climate adaptation plan submission to the UNFCCC

India’s unique climate policy architecture successfully balances developmental imperatives with ambitious climate goals, Bhupendar Yadav added.
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Overview

  • The government published the Draft Framework of the Climate Finance Taxonomy to classify and guide funding for adaptation and mitigation activities
  • India is finalizing its first National Adaptation Plan to bolster adaptive capacity and reduce exposure to climate risks before its UNFCCC submission
  • Extended Producer Responsibility guidelines now cover tyres, batteries, plastics and e-waste to drive recycling and sustainable consumption
  • The recycling sector attracted ₹10,000 crore in investments between 2022 and 2024 as India’s circular economy is forecast to reach $2 trillion by 2050 with roughly 10 million jobs
  • Union Environment Minister Bhupender Yadav affirmed that securing citizens’ rights to clean energy underpins India’s evolving climate policy architecture