Asean taxonomy version 2 made effective from Feb 19

KUALA LUMPUR: The Asean Taxonomy Board (ATB) said the updated iteration of the Asean Taxonomy for Sustainable Finance (Asean Taxonomy) Version 2 has been made effective from Feb 19, 2024, "following feedback and suggestions from the targeted stakeholder consultation in November 2023.”

The Asean Taxonomy serves as a principal reference point in Asean to guide capital and funding toward activities that can help promote the systemic transformation needed for the region.

The board said revisions made in the Asean Taxonomy Version 2 include clarification of the definitions and criteria for Environmental Objectives and Essential Criteria under the Foundation Framework.

"The system also included the Grandfathering Rules on green bonds and other green financial instruments. These rules consider practices in other markets and the evolving landscape of sustainable finance within Asean to encourage the flow of capital to support the decarbonisation of the region.

"The ATB hopes that the amendments would provide greater clarity for users of the Asean Taxonomy," it said in a statement.

"Further, consistent with Asean’s aspirations to facilitate a just transition, the Asean Taxonomy will continue to be reviewed and updated in line with evolving technological, scientific, and economic developments and in consultation with key stakeholders and users of the Asean Taxonomy,” it added.

The Asean Taxonomy Version 2 can be found at the following websites - Sustainable Finance Institute Asia -, Association of Southeast Asian Nations -​​​​​​​, and Asean Capital Markets Forum - - Bernama

Association of Southeast Asian Nations -

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