New ASEAN Taxonomy Launched  

The Association of Southeast Asian Nations (ASEAN) Taxonomy Board (ATB) has announced the third version of its Taxonomy for Sustainable Finance, introducing technical screening criteria (TSC) for the transportation and storage sector as well as for construction and real estate. This follows TSC for electricity, gas, steam and air conditioning supply sector published in ASEAN Taxonomy Version 2. The ASEAN Taxonomy adopts a multi-tiered framework which allows assessment of sustainable activities through either a principles-based framework or a more detailed methodology using application of TSC. The new focus sectors in ASEAN Taxonomy Version 3 cover activities including construction and renovation of buildings, demolition and site preparation, and acquisition and ownership of buildings, as well as urban and freight transport, and infrastructure for land, water, and air transport. “The release of Version 3 marks a significant step forward in our collective efforts to accelerate sustainable development and responsible investment practices in the ASEAN region,” said Noorrafidah Sulaiman, Chair of the ATB. “The issuance of the TSC for transportation and storage and construction & real estate underscores our unwavering commitment to fostering sustainability. We look forward to engaging with stakeholders to ensure the rigour and practicality of the taxonomy.” 

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