UNEP FI, PRI, and Climate Bonds Join Forces to Boost Sustainable Finance Taxonomies
The United Nations Environment Programme Finance Initiative (UNEP FI) is collaborating with the Principles for Responsible Investment (PRI) and the Climate Bonds Initiative to enhance global interoperability and implementation of sustainable finance taxonomies. This joint effort aims to promote a common language for sustainable finance and facilitate private sector investment in environmental objectives.
UNEP FI, which brings together a large network of financial institutions, is working closely with PRI and other international organizations to develop taxonomies covering emissions reduction, climate resilience, and other environmental objectives. These taxonomies will serve as 'shopping lists' for investments in a sustainable future, as described by Climate Bonds CEO Sean Kidney.
The collaboration aims to build consensus on taxonomy definitions and concepts, support taxonomy development, and provide tools for implementation. PRI's chief sustainable systems officer, Nathan Fabian, emphasizes the need for enhancing usability and interoperability of these taxonomies to achieve climate and environmental goals. The result of this collaboration will be a taxonomy resource centre, which will support taxonomy developers and users, facilitate integration within broader regulatory frameworks, and enable private finance for sustainable development.
UNEP FI, PRI, and the Climate Bonds Initiative are working together to promote sustainable finance taxonomies and frameworks. Their collaboration aims to build consensus, support development, and provide tools for implementation, ultimately promoting a common language for sustainable finance and enhancing usability and interoperability. This joint effort is crucial for catalyzing action towards sustainable global economies.
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