The UN Environment Programme Finance Initiative (UNEP FI), Climate Bonds Initiative (CBI) and Principles for Responsible Investment (PRI) are collaborating to support the implementation of sustainable finance taxonomies and other frameworks globally. “Taxonomies of sustainable finance are the building block of sustainable finance markets – they are, essentially, ‘shopping lists’ for investments for a sustainable future,” said Sean Kidney, CEO of the CBI. “They provide simple guidance for investors, banks and corporates, making easier for capital to flow to climate solutions.” To ensure global interoperability, the three bodies aim to build consensus around taxonomy definitions and concepts among taxonomy users, standard-setters and policymakers. The organisations will continue to support the development of taxonomies that cover themes such as climate resilience and emissions reduction, as well as the provision of tools that assist interoperability and usability. In addition, the collaboration will result in the development of a taxonomy resource centre that will provide support tools for taxonomy developers and users. “The PRI has been engaging with investors on the implementation and use of sustainable finance taxonomies since their early inception, most notably for the EU Taxonomy,” said Nathan Fabian, PRI’s Chief Sustainable Systems Officer. “Enhancing the usability and interoperability of sustainable finance taxonomies is crucial to ensure well-functioning financial markets that collectively contribute to climate and broader environmental goals.”
