SBP Launches Draft National Green Taxonomy for Public Consultation
The State Bank of Pakistan (SBP), in its efforts to promote green finance, has introduced the draft National Green Taxonomy for public consultation. Developed in collaboration with the Ministry of Climate Change & Environmental Coordination and with technical assistance from the World Bank, the taxonomy aims to support climate risk mitigation and adaptation.
The National Green Taxonomy offers clear definitions for green projects and activities, which will help policymakers, banks, financial institutions, and investors direct capital flows towards climate-conscious sectors. It will also enhance clarity in financial markets, increase transparency in green investments and financial products, and mitigate climate-related financial risks. Ultimately, the taxonomy will assist the financial sector in directing investments to projects that align with the country’s environmental and climate goals.
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To ensure comprehensive input from all stakeholders, the draft taxonomy has been uploaded on the SBP’s official website for public consultation. The consultation period will run from February 04 to 18, 2025.
SBP encourages all stakeholders, including environmental professionals, banks, and the general public, to provide their valuable feedback. This will assist in finalizing and rolling out the taxonomy as planned.
