Advancing interoperability: A global approach to taxonomy alignment

As the world gathers in Belém for COP30, the conversation on sustainable finance centres on a defining question: how can markets speak the same language when defining what is sustainable and mobilise the trillions needed for the global transition? 
 
That question took centre stage at “Capital for Climate: Harnessing Taxonomies and Interoperability”, a Pre-COP event hosted last week by CVM, CNMV, and IIMV at B3 in São Paulo, with support from the Taskforce on Net Zero Policy, PRI, UNEP FI, and the Climate Bonds Initiative. 

During the event, Climate Bonds Initiative, together with partners of the Roadmap for Advancing Interoperability and Comparability of Sustainable Finance Taxonomies (Taxonomy Roadmap Initiative), launched the Principles for Taxonomy Interoperability a new global reference to help countries and regulators design and implement taxonomies that are usable, credible and interoperable across borders. 

 
A global effort towards alignment 

Launched at COP30, the Taxonomy Roadmap Initiative brings together leading international partners including UNEP FI, PRI, IFC, UNDP, GIZ, BMZ, the World Bank and the Ministry of Finance of Brazil to promote collaboration and comparability in taxonomy development. More information about the Initiative and its partners is available at: https://www.taxonomiesroadmap.org/. 
 
With over 60 taxonomies published or under development, the need for coordination has never been greater. The Taxonomy Roadmap Initiative fosters a shared space for technical dialogue, helping ensure frameworks remain both locally relevant and globally coherent. 

As part of the Action Agenda for COP30, Brazil’s Ministry of Finance is leading the “Super Taxonomy initiative”, which is not a new taxonomy but rather an agenda to enhance interoperability and comparability among national taxonomies, facilitating more efficient and transparent cross-border financial flows. The Principles provide a bridge between the strategic vision outlined in the COP29 Roadmap and the practical steps needed to advance this shared global effort. 

For over a decade, Climate Bonds Initiative has supported more than 30 national and regional governments in designing sustainable finance taxonomies with clear, science-based criteria aligned to national priorities and the Paris Agreement. As pioneers in the field, Climate Bonds launched its mitigation taxonomy in 2012, which laid the foundation for frameworks worldwide and became a key tool to combat greenwashing. 
 

A blueprint for interoperable taxonomies

 
The Principles for Taxonomy Interoperability  outline global best practice in seven concise actions: 

1. Build the foundation of the taxonomy on jurisdictional environmental, economic and social priorities and on existing principles of best practices such as the G20 Principles.
2. Apply common taxonomy design features and terminology such as sector classification, shared objectives, screening criteria, minimum safeguards and transition approaches.
3. Define use cases and users in the development and review process, prioritising straightforward use cases with the highest market demand internationally and domestically. This may include a pathway for small- and medium-sized enterprise (SME) adoption in line with national priorities.
4. Ensure that regular review and expansion of taxonomy coverage takes account of activities more common in taxonomies as well as activities with high impact within national contexts.
5. Seek to reduce complexity of the taxonomy by providing clear science-based criteria and implementing the taxonomy in a way that interoperates with national and international frameworks.
6. Send a clear market signal and foster market ownership through early user support, stakeholder engagement, pilots, peer-to-peer learning, capacity building and the sequencing of taxonomy implementation in consultation with users.
7. Join international collaborative efforts by engaging taxonomy developers through platforms and fora, conducting comparison studies, leveraging international proxies to close criteria gaps and exploring the legal and operational feasibility of cross-border recognition.

The publication is available in English and Portuguese, with summaries translated into Spanish, Mandarin, and French to support wider accessibility across regions. 

The Taxonomy Roadmap Initiative will continue advancing practical tools to support greater transparency, alignment, and global dialogue in taxonomy development. It has four knowledge products coming out at COP: 

• Principles for Taxonomy Interoperability
• Global Status and Taxonomy Roadmap Implementation Report: Advancing Sustainable Finance Taxonomies & Interoperability
• Sustainable Finance Taxonomy Mapper: a global public-good tool that enables users to compare, navigate, and analyse sustainable finance taxonomies across jurisdictions.
• Website for the Taxonomy Roadmap Initiative to promote coordination, transparency, and global alignment by sharing roadmap updates, facilitating partner engagement and fostering collaboration among key stakeholders. 
   

In parallel, Climate Bonds has launched its interactive Taxonomy Map, offering a global snapshot of existing and emerging taxonomies. 

To learn more about Climate Bonds Initiative’s activities, upcoming launches, and where to find our representatives during COP, visit our blog Climate Bonds at COP30. 

‘Till the next time,  
Climate Bonds