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This technical report, prepared for the South African National Treasury by the Climate Policy Initiative and GreenCape, evaluates the international interoperability and usability of the South African Green Finance Taxonomy (SA GFT). The analysis focuses on three core pillars: Make a Substantial Contribution (MSC), Do No Significant Harm (DNSH), and Minimum Social Safeguards (MSS). While the SA GFT shows strong alignment with global standards in its environmental objectives and sectoral coverage, it faces significant challenges in the practical application and measurability of its DNSH and MSS criteria. The report recommends introducing more flexible alignment classifications, increasing the use of quantitative thresholds, and integrating existing national social regulations to enhance the taxonomy's usability and attractiveness for international investment.