The United Nations Environment Programme Finance Initiative (UNEP FI), Climate Bonds Initiative (CBI), and Principles for Responsible Investment (PRI) have joined forces to support global interoperability and the implementation of sustainable finance taxonomies and frameworks.
This collaboration aims to build consensus on taxonomy definitions and concepts among standard setters, policymakers, and users, as well as support taxonomy development and provide tools for implementation.
CBI, PRI, and UNEP FI bring extensive sustainable finance experience in major economies, including technical taxonomy development, policy implementation, and public sector project support.
The three organisations will support the development of taxonomies covering emissions reduction, climate resilience, and other environmental objectives and provide tools for interoperability and usability across sustainable finance frameworks.
Under this collaboration, a taxonomy resource centre will also be established to provide practical support tools for developers and users, facilitate the integration of taxonomies into broader regulatory frameworks, and work with relevant stakeholders to enhance private finance for sustainable development globally.
Liesel van Ast, Deputy Head of UNEP FI said, “Sustainable finance taxonomies play an important role in promoting and providing a common language for sustainable finance, with over 40 jurisdictions developing and implementing them globally. Users and developers can benefit from support to enhance usability, interoperability, and cross-border capital flows. The Common Framework of Sustainable Finance Taxonomies for Latin America and the Caribbean is an example of regional collaboration to develop guidance for taxonomy interoperability across jurisdictions, and we look forward to further harmonised approaches through this collaboration.”