Implementing local green definitions to enable long-term investment into low-carbon priority sectors

Led by:  Climate Bonds Initiative
Sector:  Finance

“Our project will continue to support Colombia's green finance agenda and the implementation and applicability of the country's Green Taxonomy through different instruments. Through these initiatives, we expect to see impactful market growth.”

- Leisa Souza, Head of Latin America, Climate Bonds Initiative

This project is supporting the mobilisation of financial resources for environmental agenda objectives. In the first phase, it supported the development and implementation of Colombia’s GreenTaxonomy, and provided technical assistance to the analysis and structuring of a Sovereign Fund for Climate Change and Sustainable Development. In this way, the project has provided clarity to the financial market on what activities can be considered green or sustainable climate investments.

In the new project phase, the Taxonomy implementation is expected to become integrated in the financial market. This will help promote sustainable finance, which underpins emissions reductions goals.