Climate Bonds Initiative partners with UNEP FI and PRI to advance sustainable finance taxonomies 

The Climate Bonds Initiative (CBI) announced a collaboration with the UNEP Finance Initiative and Principles for Responsible Investment to support global interoperability and implementation of sustainable finance taxonomies and other frameworks. 

CBI said that the collaboration seeks to establish agreement on taxonomy definitions and concepts among standard setters, policymakers, and taxonomy users while also aiding in developing taxonomies and offering tools for their effective implementation. 

Sean Kidney, Climate Bonds CEO, said, “Taxonomies of sustainable finance are the building blocks of sustainable finance markets—they are, essentially, ‘shopping lists’ for investments in a sustainable future. They provide simple guidance for investors, banks, and corporates, making it easier for capital to flow to climate solutions.” 

Liesel van Ast, Deputy Head of UNEP FI, added, “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 harmonized approaches through this collaboration.” 

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The three organizations will support the ongoing advancement of taxonomies covering emissions reduction, climate resilience, and other environmental goals and provide tools to enhance interoperability and usability across sustainable finance frameworks. 

CBI notes that this collaboration will also establish a taxonomy resource centre, offering practical tools to support taxonomy developers and users.  

It aims to facilitate the seamless integration of taxonomies into broader regulatory frameworks and engage with relevant stakeholders to foster the scaling of private finance for global sustainable development initiatives.