Under this Sub-Group, country delegates are seeking to advance activities aimed at having common minimum reference frameworks for the implementation of a regional taxonomy. Although the countries have already begun to approach an ad hoc taxonomy of green and climate finance, there is mutual interest in adopting common minimums that would allow for a significant degree of comparison and a governance structure for its implementation and update.
To date, Colombia and Mexico are the only Pacific Alliance countries with a developed and implemented taxonomy, and therefore their experience and existing taxonomies will be a starting point to articulate and harmonise future actions aimed at regional frameworks to classify activities and environmentally sustainable investments. The Government of Peru has expressed interest in undertaking a pilot activity that contributes to the implementation of their Taxonomy of Green Finance (TFV[1]).
In response to this request, Gold Standard facilitated in the first quarter of 2024, a series of guided discussions with government focal points, other experts within national governments and other stakeholders to clarify and identify the objectives and priorities of Peru and to inform the development of a concept note for the implementation of a pilot on Common taxonomies and governance. During these sessions, country delegates collectively defined the scope, timeframe, local expertise needs, governance, and ownership structure for the implementation of pilot activities over the following 1-2 years to ensure that these are appropriately designed, relevant, impactful and represent value for money.
While Gold Standard will facilitate arrangements for implementation, we are seeking a local consultancy firm (based in Peru or in one of the other countries supported through this project: Colombia, Mexico, Chile or Ecuador) with subject matter expertise in Common taxonomies and governance to support this effort and deliver the agreed products at the end of the consulting period. As described below, the consultancy firm will play a critical role in implementing the identified activities in the pilot concept note and ensuring all country needs are met.
[1] Taxonomía de Finanzas Verdes (TFV)