An initiative to develop a taxonomy of sustainable finance has garnered the support of the finance ministers and central bank governors associated with the Association of Southeast Asian Nations (ASEAN).
The ASEAN Taxonomy of Sustainable Finance (ASEAN Taxonomy) will be similar to the European Union Taxonomy. It will serve as a common language for sustainable finance and account for both international goals and ASEAN’s specific needs. Furthermore, ASEAN bodies, including its Capital Markets Forum, Insurance Regulators’ Meeting, and Senior Level Committee on Financial Integration and Working Committee on Capital Market Development, support this initiative.
In addition, an ASEAN Taxonomy Board has been established to develop, maintain and promote the ASEAN Taxonomy. Further, an announcement on the progress of the ASEAN Taxonomy is expected by the end of 2021.
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