On July 3rd took place the launch event of the Common Framework of Sustainable Finance Taxonomies for Latin America and the Caribbean (LAC) developed by the LAC Working Group on Sustainable Finance Taxonomies and funded by the European Union through the EUROCLIMA+ Programme.

The Group was formed as part of the Inter-Agency Technical Committee of the Forum of Ministers of Environment of Latin America and the Caribbean and is comprised of the United Nations Environment Programme Finance Initiative (UNEP FI), the United Nations Development Programme (UNDP), the International Finance Corporation (IFC), the Inter-American Development Bank (IDB), the International Monetary Fund (IMF), the World Bank, the Economic Commission for Latin America and the Caribbean (ECLAC), the Development Bank of Latin America (CAF), the Food and Agriculture Organisation (FAO) of the United Nations, and the European Commission as an external advisor.

The Common Sustainable Finance Taxonomies Framework for LAC is a voluntary reference guidance document to assist countries in the region that are developing sustainable finance taxonomies or intend to initiate the process.

It aims to serve as a catalyst for progress towards the implementation of sustainable finance, offering LAC member states a regionally aligned approach to unlock opportunities and financing for long-term value creation, shared prosperity and sustainable development in the region. It establishes guiding principles to improve comparability and ensure interoperability of taxonomies in the region and internationally.

The Inter-American Development Bank promotes the interoperability of taxonomies through its public and open information tool Green Bond Transparency Platform.