Content library
Sustainable Finance taxonomy project
A sustainable finance taxonomy is a classification system for clearly defining which economic activities and assets are aligned to a sustainable, low-emissions future.
Webinar: 21 April 2024: members of the Independent Technical Advisory Group convened by CSF presented the draft Taxonomy design recommendations being prepared for the Minister of Climate Change.
Jo Kelly - CEO, Centre for Sustainable Finance Toitu Tahua
Matteo Bigoni - Head of Taxonomies, Climate Bonds Initiative (CBI)
June McCabe - Independent Director, Pou Tahua representative, National Iwi Chairs Forum
Pip Best, Partner - Climate Change and Sustainability Services, EY Oceania
Sebastian Gehricke, Director - Climate and Energy Finance Group (CEFGroup), University of Otago
Joanna Silver - Head of Sustainable Finance, Westpac New Zealand
Adam Coxhead - Head of Sustainable Finance, Bank of New Zealand
Webinar: 20 March, 2024: A Green Taxonomy for Aotearoa New Zealand
Hear from international experts and guests about the benefits of a taxonomy for Aotearoa New Zealand, and key developments globally. Featuring Hon. Simon Watts, Climate Change Minister and international experts:
Matteo Bigoni | Head of Taxonomies, Climate Bonds Initiative (CBI)
Yuki Yasui I Managing Director, Asia Pacific Network, Glasgow Financial Alliance for Net Zero (GFANZ)
Nicole Yazbek-Martin | Head of Taxonomy & Natural Capital, Australian Sustainable Finance Institute (ASFI)
Frances Sweetman I Head of Responsible Investment, Milford Asset Management
Adam Coxhead | Head of Sustainable Finance, Bank of New Zealand
Fonteyn Moses-Te Kani I Pou Tiaki - Director Māori Strategy and Indigenous Inclusion, Ngāti Maniapoto, Ngāi Tahu, Ngāti Porou, Ngāi Tūhoe
Resources
-
22 April 2024
The Centre for Sustainable Finance (CSF) has today published the draft report outlining the proposed design principles for a ‘green’ taxonomy that would provide a clear classification system to identify economic activities and assets aligned with a sustainable, low-emissions future in Aotearoa New Zealand.
The report follows the Government tasking a specialised Independent Technical Advisory Group (ITAG) with preparing and publishing non-binding advice on the design of a taxonomy, and providing its recommendations to the Climate Change Minister by June 2024.
The purpose of a taxonomy is to provide objective definitions of sustainable activities for investment, lending and insurance. This will help direct capital to activities that support a low-carbon economy, and give investors, businesses and market participants greater confidence in the validity of ‘green’ financial products.
“The ITAG’s draft recommendations have been developed to align with international approaches and our key trading partners, while taking into account the important features of our own economy,” CSF chief executive Jo Kelly says.
“The key considerations the ITAG focused on included credibility, usability and alignment with our international commitments and environmental objectives across other jurisdictions. It also identified the sectors it considered should be prioritised under the taxonomy given their importance to our low-emissions transition and our economy.”
Those key sectors are:
Agriculture, forestry and fishery
Transport
Energy
Construction and real estate
Industrial manufacturing
The ITAG is seeking feedback on its draft report before presenting its final recommendations to the Minister.
A copy of the report and its meeting minutes are available on the CSF website, along with a feedback survey.
The CSF is also facilitating two public webinars with ITAG members - one was hosted today (22 April from 12-1pm) and one next Tuesday 30 April 2024 to discuss and then respond to questions on its work to date. Anyone interested can register for the webinar and view previous recordings via the CSF website.
ENDS -
Monday, 25 March 2024, 10:33 am: New Zealand Government
A specialised Independent Technical Advisory Group (ITAG) tasked with preparing and publishing independent non-binding advice on the design of a "green" (sustainable finance) taxonomy rulebook is being established, Climate Change Minister Simon Watts says.
“Comprising experts and market participants, the ITAG's primary goal is to deliver comprehensive recommendations to the Minister by June 2024 tailored for New Zealand’s needs.
“A sustainable finance taxonomy is crucial in today's world as it provides a clear classification system to identify economic activities and assets aligned with a sustainable, low-emissions future.
“This initiative is an important step towards helping investors, businesses, and market participants enhance confidence and reduce uncertainty in “green” financial products. Mobilising private capital that enables implementation of emission reduction projects is a priority for this Government.
“By leveraging the expertise and insights of industry leaders, the ITAG will play a pivotal role in shaping policies and frameworks that promote environmental sustainability while driving economic growth,” says Mr Watts.
New Zealand is following in the footsteps of Australia, which recently introduced a similar industry-led process. This demonstrates a collective effort among nations to address climate change challenges and transition towards a more sustainable financial ecosystem. -