March 17, 2025 – Leading global institutions and initiatives convened a roundtable in Geneva to discuss implementation of the Roadmap for Advancing Interoperability and Comparability of Sustainable Finance Taxonomies (Taxonomy Roadmap). Launched during COP29 in Azerbaijan last November, the initiative is a joint effort by the Central Bank of Azerbaijan (CBAR), International Finance Corporation (IFC), Sustainable Banking and Finance Network (SBFN), the United Nations Development Programme (UNDP), and the International Platform on Sustainable Finance (IPSF).
Hosted by UNDP, the roundtable marked a key milestone in the implementation of the Roadmap, bringing together key organizations and initiatives working on sustainable finance taxonomies. In addition to the founding partners, United Nations Environment Programme Finance Initiative (UNEP FI), German Agency for International Cooperation (GIZ), Climate Bonds Initiative (CBI), the EU Sustainable Finance Advisory Hub (for low and middle income countries), UN-supported Principles for Responsible Investment (UN PRI), the World Bank (WB) and the International Monetary Fund (IMF) joined as partners.
Reflecting on COP29, the roundtable participants emphasized the growing importance of interoperability in the global sustainable finance ecosystem. It was agreed that the Taxonomy Roadmap will serve as a key global platform for coordination, collaboration and alignment of taxonomy initiatives, helping organizations better align their efforts, reduce redundancies, and establish stronger linkages between their activities/efforts and the Roadmap’s key pillars.
During roundtable discussions, the participants shared updates on their current taxonomy-related initiatives, tools, or country support programs, and outlined possible next steps for implementing the Taxonomy Roadmap.
Partners also stressed the importance of connecting these efforts with global policy forums, including the G20 Sustainable Finance Working Group, the UN’s 4th International Conference on Financing for Development (FfD4), and COP30 & COP31.