Post by Sustainable Banking and Finance Network (SBFN)

In February, the Dominican Republic (DR) Superintendence of the Securities Market, Ministry of Environment and Natural Resources, and IFC jointly launched the project "Green Taxonomy in the Dominican Republic" to promote the growth of the sustainable capital market and contribute to the mitigation of climate change. Read more at https://lnkd.in/dXGgkqrp.    A good sustainable finance taxonomy defines eligible green and inclusive activities for the growing market of sustainable finance instruments. It needs to reflect the priorities and characteristics of a country's development and align where appropriate with international standards and good practices. Therefore, countries usually collaborate with international partners in developing their national taxonomies, and SBFN has facilitated such collaboration for several members.    A growing number of SBFN countries have launched national green and/or sustainable finance taxonomies, including Bangladesh, Brazil, China, Colombia, Indonesia, and Mongolia. More are in the process of taxonomy development, including Chile, Mexico, South Africa, Vietnam, and now the Dominican Republic. Download these policies from the SBFN Framework Library: https://lnkd.in/dfAMHWi4.   SBFN’s Sustainable Finance Instruments Working Group held its first meeting on February 24, which focused on the international trends and members' practical experiences in developing national green and sustainable taxonomies. Look out for more developments on our website, www.sbfnetwork.org.   The Dominican Republic has been an SBFN member since 2017. In 2020, the Superintendency of the Securities Market published the "Guidelines for the broadcast of values public offer sustainable, green and social in the securities market", and the Dominican Republic Stock Exchange established the Green Finance Segment.    For more in-depth insights on national sustainable finance trends across 43 emerging markets, see SBFN's 2021 Global Progress Report and Country Progress Reports — the most comprehensive benchmarking of national sustainable finance initiatives in emerging markets. Download at www.sbfnetwork.org.