Back to Library

Developing a National Green Taxonomy: A World Bank Guide

Published by:
Online Location
Publication date
Type of Publication:
Guidelines & Learning resources
Focus Region:
Focus Topic:
Inclusive Rural Finance - CoP
Climate / Weather / Environment
Inclusive Rural Finance – CoP
World Bank

The objective of this document is to provide a conceptual framework and procedural guide for regulators engaged in developing a green taxonomy. The recommended approach is based on the World Bank Group’s experience in supporting similar initiatives in Colombia, Malaysia, Mongolia, and South Africa and the role it plays around the world in delivering positive social and environmental impacts, developing sustainable capital markets, and participating in regional, national, and global initiatives, such as Green Bond Principles (GBP) and Social Bond Principles, with the International Capital Market Association (ICMA) and the Network of Central Banks and Supervisors for Greening the Financial System (NGFS), among others. The document also presents an overview of existing green taxonomies to illustrate the varying approaches used in different jurisdictions, and it incorporates into its guidance lessons learned from the development of these taxonomies.

The intended audience for this publication is mainly financial regulators and their environmental advisers in emerging economies, as they seek to “green” their countries’ financial systems.  The taxonomy framework provided here will require considerable tailoring to each country’s circumstances, including its national environmental policies and its capacity in the financial sector.