Indonesia launches green finance taxonomy

Indonesia’s Financial Services Authority (OJK) has launched a green finance taxonomy – the guidelines for financiers wanting to invest in the country’s green economy.

Monday, January 24, 2022 21:31

Indonesia launches green finance taxonomy ảnh 1

Chairman of the Financial Service Authority (OJK) Wimboh Santoso (Source: Indonesia Stock Exchange)

Jakarta (VNA) - Indonesia’s Financial ServicesAuthority (OJK) has launched a green finance taxonomy – the guidelines for financierswanting to invest in the country’s green economy.

Launched on January 20, the taxonomy lays out the terms todetermine how environmentally damaging a business's operations are inIndonesia.

The OJK classifies environmental damage into three tiers: greenmeaning the operations either protect or improve the environment, yellowmeaning they do no significant harm and red meaning they are harmful.

OJK chairman Wimboh Santoso said this first version of thetaxonomy covered 919 business sectors and subsectors, but the regulatory bodyaimed to eventually cover 2,733 sectors and subsectors listed under theIndonesia Standard Industrial Classification (KBLI).

With the launch, Indonesia has become the second country in theAssociation of Southeast Asian Nations (ASEAN) after Malaysia to have suchsystem./.

VNA

#Indonesia #green finance taxonomy #green economy #vietnam news agency #vietnamplu

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