Green taxonomies are an increasingly popular policy tool for classifying economic activities according to their contribution to national sustainability goals. The EU adopted a green taxonomy in December 2019 that forms the backbone of its Action Plan on Sustainable Finance. China adopted its taxonomy in 2015, and Canada expects to launch its taxonomy later in 2020. At the World Bank/IMF Annual Meetings in October 2019, the International Platform on Sustainable Finance (IPSF) was launched to facilitate the exchange of good practices on taxonomy development and implementation, as well as underpin dialogue on harmonization. The OECD is an observer of IPSF and is currently working on a report mapping sustainable finance definitions across five jurisdictions.
In this webinar, the OECD led a discussion on green taxonomies and presented their analysis. The European Commission, IFC, and country representatives also presented their experience, critical decisions, and lessons learned.