La presente informativa è resa, anche ai sensi dell’art. 13 del D. Lgs. 196/2003 “Codice in materia di protezione dei dati personali” (“Codice Privacy”) 
e degli artt. 13 e 14 del Regolamento (UE) 2016/679 (“GDPR”), a coloro che si collegano alla presente edizione online del giornale Tribuna Economica di proprietà di AFC Editore Soc. Coop. 

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The World Bank  published a guide outlining the processes that financial regulators can use to develop a green taxonomy. The publication Developing a National Green Taxonomy: A World Bank Guide will help regulators in emerging economies who seek to “green” their countries’ financial systems. The lack of clarity about which activities and assets can be

defined as green has long posed a barrier to scaling up green finance. A green taxonomy identifies the activities or investments that deliver on environmental objectives, helping drive capital more efficiently toward priority environmentally sustainable projects. The guide can help banks and other financial institutions originate and structure green banking products (e.g., loans, credits, and guarantees). It can also help investors identify opportunities that comply with sustainability criteria for impact investments.

Given the diverse needs and contexts of emerging economies, this guide avoids one-size-fits-all definitions and standards. Instead, it presents ways to develop a taxonomy based on the environmental objectives relevant to a country’s sustainable development priorities and agenda. A key recommendation is for regulators to provide a technically sound justification for the activities and investments considered green.

This Guide was prepared by the World Bank in response to a request by the Malaysian central bank, Bank Negara Malaysia, to develop a common language on environmental issues by the financial sector and to support decisions related to climate risk in fundraising, lending, and investment activities.

The recommended approach is based on the World Bank Group’s experience in supporting similar initiatives in several countries, including Colombia, Malaysia, Mongolia, and South Africa. To help countries understand and learn from the varied approaches already being taken, the guide also includes an overview of existing green taxonomies, including those developed by Bangladesh, China, Mongolia, the European Union, and the Climate Bonds Initiative.