The Central Bank of the Republic of Azerbaijan announced it will organise a high-level COP30 event, in cooperation with COP Sustainable Business (SB COP) and the International Development Finance Club (IDFC), to present a Roadmap for improving the interoperability and comparability of sustainable finance taxonomies. The session is framed as a global platform to align taxonomies to increase transparency, comparability and cross-border investment in climate and sustainability financing. Building on COP29’s New Collective Quantified Goal to mobilise at least USD 1.3 trillion a year by 2035, the initiative plans to showcase four outputs: an implementation status report on global trends, progress and good practices in taxonomy development and interoperability; a set of high-level taxonomy interoperability principles to guide taxonomy-setting and policy bodies; a global digital mapping system to compare and analyse taxonomies across jurisdictions; and a dedicated website to share updates and resources and support partner engagement. The voluntary, multi-stakeholder platform was established at COP29 and includes partners such as the International Finance Corporation, the International Platform on Sustainable Finance, UNDP, UNEP FI and Brazil’s Ministry of Finance.
Central Bank of the Republic of Azerbaijan to present roadmap for interoperable sustainable finance taxonomies at COP30
The Central Bank of the Republic of Azerbaijan will host a high-level COP30 event with COP Sustainable Business and the International Development Finance Club to present a Roadmap for enhancing sustainable finance taxonomies. The initiative aims to improve transparency and comparability in climate financing, featuring outputs like a global digital mapping system and interoperability principles. This voluntary platform, established at COP29, includes partners such as the International Finance Corporation and Brazil’s Ministry of Finance.