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ARTICLE · 19 MAY 2023

ASEAN Releases Version 2 Of The Sustainability Taxonomy For Southeast Asia

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On March 27, 2023, the ASEAN Taxonomy Board released Version 2 of the ASEAN Taxonomy for Sustainable Finance (the "ASEAN Taxonomy").

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Mark Uhrynuk
Mark Uhrynuk
Wei Na Sim
Wei Na Sim
Joey C.Y. Lee
Joey C.Y. Lee
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On March 27, 2023, the ASEAN Taxonomy Board released Version 2 of the ASEAN Taxonomy for Sustainable Finance (the "ASEAN Taxonomy"). As we reported here, Version 1 of the ASEAN Taxonomy was first published in November 2021 and it was designed to promote the transition towards sustainable finance by the ASEAN member states which, together, comprise the fifth largest economy in the world.

Version 2 of the ASEAN Taxonomy took into account comments received from stakeholder consultations conducted in mid-2022 and expands on the conceptual thinking of the multi-tiered framework set out in Version 1. The ASEAN Taxonomy is meant to be interoperable with the EU Taxonomy and other national Taxonomies of ASEAN member states. In this Blog Post, we highlight the key aspects of the two assessment approaches as applied in Version 2 of the ASEAN Taxonomy, i.e. the 'Foundation Framework' and the 'Plus Standard'.

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