Green Taxonomy, Colombia's commitment to strengthen sustainable financing and its biodiversity

This Wednesday, April 13, the President of Colombia, Iván Duque, launched Green Taxonomy, a strategy that establishes a classification system for economic and active activities that contribute to the country's environmental objectives, with the aim of promoting sustainable financing in the national territory.

This initiative, which aims to contribute to the commitments, strategies and policies established in the country, will allow Colombia to mobilize more resources to promote projects that mitigate climate change and promote the protection of biodiversity, while seeking to differentiate green financial instruments and contribute the tracking and monitoring of investments.

“Colombia is proud to launch Green Taxonomy in New York, a benchmark model for other emerging markets, hand in hand with the private sector in Latin America. We are currently the fourth country in the world to have a Green Taxonomy, a kind of genetic code through which we are going to define all public policy determinations that can be very valuable and that, in addition, can be demonstrated in any form in a carbon market,” said President Duque.

Green Taxonomy is linked to other financing actions adopted in the country that seek to contribute to Colombia's competitiveness and financial protection strategies to counter the impacts of disaster risk and climate change, which seeks to address mitigation and adaptation to climate change, conservation of ecosystems and biodiversity, water management, soil management, the circular economy and pollution prevention and control.

This strategy is led by the Ministry of Environment, Ministry of Finance and the Financial Superintendence, entities that also belong to the Green Taxonomy Board together with National Planning and DANE. In addition, it had the technical and financial support of the World Bank Group.

“Our country continues to mark its path towards sustainability, this time leveraging new resources and investments for the sector. With Green Taxonomy, we will be able to promote environmental projects of priority for the country and it becomes the roadmap for companies and issuers of securities, local and foreign investors, financial regulators, public and private entities, and consumers,” said Environment Minister Carlos Eduardo Correa.

The Ministry of Environment reported that through its National School of Environmental Training Savia opened a call for 1,000 Colombians to be able to train for free on topics such as environmental care, ecosystem protection, responsible environmental consumption, among others.

The Minister of Environment, Carlos Eduardo Correa, explained that the training will be carried out virtually and will have four types of academic offers, which those interested will be able to select depending on their interest: diplomas, courses, chairs and seminars.

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