ASEAN Taxonomy Board begins work on regional sustainable finance and transition taxonomies

ASEAN's regional taxonomy will cover both green and transition-related issuesWith joint EU-China 'common ground' taxonomy report expected to be released later in 2021, national taxonomy development is likely to grow rapidlyProliferation of national taxonomies will create fragmentation, opportunities for greenwashing and increasing the need for regional coordination

The new ASEAN taxonomy under development could be an important marker of the next phase of taxonomy development, centered on both financing green activities and raising definitions around the transition of unsustainable activities in emerging markets. The Taxonomy Board will be tasked to “develop, maintain and promote a multi-tiered taxonomy” by the end of 2021 “that will take into account ASEAN&rsq...