Sustainable Finance in ASEAN Expands

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by KnowESG
KnowESG_Sustainable Finance in ASEAN Expands
Image courtesy of Vecteezy

The ASEAN Taxonomy Board (ATB) has launched Version 3 of the ASEAN Taxonomy for Sustainable Finance.

This update expands the programme to include the Transportation & Storage and Construction & Real Estate sectors.

By adding Technical Screening Criteria (TSC) for these new areas, the Taxonomy aims to make it easier to identify sustainable activities in these important parts of development.

The new TSC covers a wide range of things, from building construction, renovations, and demolition to owning buildings. It also includes urban and freight transport, along with infrastructure for land, water, and air travel. These criteria are designed to help these sectors move towards more sustainable practices by providing clear steps for becoming more eco-friendly.

The ATB carefully lined up the Green tiers for these sectors with international standards. They made some adjustments to fit the specific situation in ASEAN countries, but the system still works well with other countries' programmes. This release is a major step forward in ASEAN's plan to promote sustainable finance throughout the region.

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Source: FinTech Global

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