The Business Times
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Greater alignment can boost interoperability between jurisdictions: report

Newer sustainable finance taxonomies converging on common features

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Wong Pei Ting

Published Mon, Dec 5, 2022 · 05:50 AM
    • The floating solar solar photovoltaic testbed at Tengeh Reservoir. Newer taxonomies are displaying more similarities than differences, an analysis by the German Agency for International Cooperation and Center of Clean Air Policy has found.
    • The floating solar solar photovoltaic testbed at Tengeh Reservoir. Newer taxonomies are displaying more similarities than differences, an analysis by the German Agency for International Cooperation and Center of Clean Air Policy has found. PHOTO: LIM YAO HUI, ST

    REGULATORS in various jurisdictions are increasingly aligned on how they design their sustainable finance taxonomies, according to an analysis of 13 country and regional frameworks.

    The “common language” between taxonomies will make it easier to compare and harmonise standards to improve capital flows, according to a policy brief by government-owned enterprise German Agency for International Cooperation (GIZ) and US-based non-profit think-tank Center of Clean Air Policy (CCAP).

    “The importance of having a common language and a homogeneous understanding of how to develop sustainable finance taxonomies is becoming more evident as more jurisdictions express interest in using taxonomies as a regulatory policy instrument,” the authors wrote.

    ESGGreen taxonomysustainable financeAsean finance

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