27 March 2024
ASEAN TAXONOMY BOARD RELEASES ASEAN TAXONOMY FOR SUSTAINABLE FINANCE – VERSION 3
FOR TRANSPORTATION AND CONSTRUCTION SECTORS
The ASEAN Taxonomy Board (ATB) today released Version 3 of the ASEAN Taxonomy for Sustainable
Finance (ASEAN Taxonomy), a significant milestone in the development of its overarching taxonomy to
advance sustainable finance practices across the region. The ASEAN Taxonomy adopts a multi-tiered
framework which allows assessment of sustainable activities through either the principles-based
Foundation Framework, or the Plus Standard with a more detailed methodology using application of
technical screening criteria (TSC).
Having published TSC for Electricity, Gas, Steam and Air Conditioning Supply (Energy) sector in ASEAN
Taxonomy Version 2, the ASEAN Taxonomy Version 3 introduces TSC for two more focus sectors,
namely Transportation & Storage and Construction & Real Estate. The new focus sectors cover
activities including construction and renovation of buildings, demolition and site preparation, and
acquisition and ownership of buildings, as well as urban and freight transport, and infrastructure for
land, water, and air transport, among others.
The Green tiers for these new focus sectors have been aligned, where appropriate with relevant
sectoral guidelines and regulations (e.g. International Maritime Organisation (IMO) 2023 GHG
Emissions strategy, International Green building certifications), to ensure that the ASEAN Taxonomy
remains credible, interoperable, and inclusive while reducing regulatory fragmentation. The Green tier
of the ASEAN Taxonomy continues to make reference to widely used international taxonomies such as
the EU Taxonomy and where relevant, will be tailored according to ASEAN’s unique circumstances. The
Amber tiers serve as a transition category, providing a useful stepping stone for companies to learn
and make adjustments to their activities in pursuit of the Green tier.
for full Statements in this link
