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Indicators for global benchmarking of sustainable finance
CLIMATE AND GREEN FINANCE Products and services
  • Defining sustainable assets and financial products

    BangladeshBrazilCambodiaChinaColombiaEcuadorGeorgiaIndonesiaKenyaMexicoMongoliaMoroccoNepalNigeriaPakistanPanamaParaguayPeruSouth AfricaSri LankaTurkeyVietnam

    Does the framework provide definitions and examples of green assets?

    Answer Source Reference
    • (1) - Page 4 - 1.4.

    • (4) - Page 15 - Table II

    • (2) - Page 15 - 6.3

    • (1) - Article 3, Definition (2) - tab 1 (6) - page 8 (§1 & §2) (7) - from page 7

    • (3) - 5.2.2 Segundo Objetivo: Definir inversión verde en Colombia con sus categorías y subcategorías.

    • (1) - Page 2 - Estrategia 1

    • N/A

    • (3) - page 21

    • (3) - page 12 (2) - page 18 "SCOPE FOR CLIMATE FINANCE POLICY IN KENYA AND TARGET SECTORS"

    • (2) - Page 3 - 1. Use of Proceeds from the issuance

    • (1) - Principle 4 - Implementation - p.15 (7)

    • (4) - page 9 (Use of proceeds) (3) - page 7

    • Annex 11 (p56-57)

    • (3) - 2.0 (4) - Eligible Projects

    • (1) - 4.2.3 p15-16

    • (2) - page 5 - 3. Productos verdes

    • N/A

    • (3) - page 12 -

    • (2) - Introduction page 6 & 7 and from 11

    • (1) 3.1.1 Sustainable/Green Loan

    • N/A

    • (2) - page 3 - 2.3.a)

    Does the framework provide a comprehensive taxonomy of green assets?

    Answer Source Reference
    • N/A

    • (4) - Page 36 to 41

    • N/A

    • (7) - from page 7

    • N/A

    • N/A

    • N/A

    • N/A

    • (3) - page 8

    • N/A

    • (7)

    • N/A

    • N/A

    • N/A

    • N/A

    • N/A

    • N/A

    • (3) - page 12 -

    • N/A

    • N/A

    • N/A

    • Correspondence No 9050-NHNN and Decree 40/2019

    Does the framework provide definitions, examples, or a taxonomy of social and/or sustainable assets?

    Answer Source Reference
    • N/A

    • N/A

    • N/A

    • N/A

    • N/A

    • N/A

    • N/A

    • (1) - page 25 - table 5.2

    • (3) - page 7

    • N/A

    • (7) (8)

    • (3) - page 8 & 9

    • N/A

    • N/A

    • N/A

    • N/A

    • N/A

    • N/A

    • N/A

    • (1) 3.1.1 Sustainable/Green Loan (1) 3.1.2 Sustainable/green leasing (1) 3.1.5 Other sustainable/green products

    • N/A

    • N/A

    Besides debt products (loans, bonds), does the framework provide definitions and examples of different types of sustainable finance products/services (e.g., saving accounts, means of payment, insurance, private equity, etc.)?

    Answer Source Reference
    • (1) - Page 2 - 1.4.

    • N/A

    • (2) - Page 13 - 5.3

    • (6) - page 8 (§2) (3) - 3.12.1 to 3.12.4

    • N/A

    • N/A

    • N/A

    • (3) - page 8 §1, page 13 §3, page 14 §4

    • N/A

    • N/A

    • (1) - Principle 4 - Implementation - p.15

    • (1) - page 14 (Banking sector, §2), 15, 16 (III.) (3)

    • N/A

    • N/A

    • N/A

    • (2) - page 5 - 3. Productos verdes

    • N/A

    • N/A

    • N/A

    • (1) 3.1.2 Sustainable/green leasing (1) 3.1.5 Other sustainable/green products

    • N/A

    • N/A

  • Green finance product guidelines

    BangladeshBrazilCambodiaChinaColombiaEcuadorGeorgiaIndonesiaKenyaMexicoMongoliaMoroccoNepalNigeriaPakistanPanamaParaguayPeruSouth AfricaSri LankaTurkeyVietnam

    Does the framework provide guidelines for green loan/green credit or other green financial assets (excluding green bonds)?

    Answer Source Reference
    • (1) - Page 3 - 1.4.

    • N/A

    • N/A

    • N/A

    • N/A

    • N/A

    • N/A

    • (1) - page 61 - 6 a 2) table 7.3

    • N/A

    • N/A

    • (1) - Principle 4 - p.16

    • N/A

    • N/A

    • N/A

    • N/A

    • N/A

    • N/A

    • N/A

    • N/A

    • (1) 3.1.1 Sustainable/Green loan

    • N/A

    • (2) - page 3 - 2.3.a)

    Does the framework provide guidelines for issuance of green bonds?

    Answer Source Reference
    • N/A

    • (4) - Introduction, and Page 44 - 5.2.

    • N/A

    • (6) - page 10 (§12 and §16)

    • (1) - Strategy 1 - A) & B)

    • N/A

    • N/A

    • (3) - page 21

    • (3) - page 10 (4) - page 8 (Green Guidelines and Standards)

    • (2) - Page 2 - I. Introduction

    • (1) - Principle 4 - p.16

    • (4) (3) (1) - page 15 (Capital market, §6)

    • N/A

    • (3) (4) Green Bond Principles

    • N/A

    • N/A

    • N/A

    • (3)

    • (3) - Green Segment 6.10 (p49)

    • (1) 3.1.3 Sustainable/Green Bond

    • N/A

    • (4)

    Does the framework refer to existing standards (e.g., ICMA’s Green Bond Principles or CBI’s Climate Bonds Standard)?

    Answer Source Reference
    • N/A

    • (4) - Introduction, and Page 44 - 5.2.

    • N/A

    • (7) - page 2, part II., §1

    • (3) - 5.2.2 Segundo Objetivo: Definir inversión verde en Colombia con sus categorías y subcategorías.

    • N/A

    • (1) - Increasing Awareness and Capacity Building - p.9

    • N/A

    • (3) - page 7 (4) - page 8 (Green Guidelines and Standards)

    • (2) - Page 2 - I. Introduction

    • N/A

    • (4) - page 19 (Useful links)

    • N/A

    • (4) - Eligible Projects (5) - 2.3 Compliance with the GBP

    • N/A

    • N/A

    • N/A

    • (3) - page 11

    • (3) - Green Segment 6.10 (p49)

    • (1) 3.1.3 Sustainable/Green Bond - For regulators and stock exchange

    • N/A

    • N/A

    Does the framework recommend external party verification (e.g., second party opinion, assurance, certification)?

    Answer Source Reference
    • N/A

    • (4) - Introduction, and Page 44 - 5.2.

    • N/A

    • (6) - page 10 (§14)

    • N/A

    • N/A

    • N/A

    • (3) – page 3, 6, 22

    • (3) - page 8 (2.) & page 11 (Part 5.) (4) - page 20 (Procedure for admission to listing for Green Bonds - 2.13.1)

    • (2) - Page 4 - 5. Independent review

    • N/A

    • (4) - page 7 (§5) (3) - page 19 (Independant review) (5) - page 52 - V.6

    • N/A

    • (3) - 3.0 iv

    • N/A

    • N/A

    • N/A

    • N/A

    • (3) - Green Segment 6.12 (p50)

    • (1) 3.1.3 Sustainable/Green Bond - For regulators and stock exchange

    • N/A

    • N/A

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(1) - Page 4 - 1.4.

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(4) - Page 15 - Table II

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(2) - Page 15 - 6.3

Implementation Guidelines V4 - Page 15 - 6.3.

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(1) - Article 3, Definition (2) - tab 1 (6) - page 8 (§1 & §2) (7) - from page 7

"These economic activities include the financing, operation and risk management for projects in areas such as environmental protection, energy savings, clean energy, green transportation, and green buildings"

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(3) - 5.2.2 Segundo Objetivo: Definir inversión verde en Colombia con sus categorías y subcategorías.

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(1) - Page 2 - Estrategia 1

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(3) - page 21

"Projects/activities/products/services that meet the principles of Sustainable Finance and are included under the criteria of sustainable projects/activities/products/ services

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(3) - page 12 (2) - page 18 "SCOPE FOR CLIMATE FINANCE POLICY IN KENYA AND TARGET SECTORS"

Kenya green Bond Principles - page 12 National Policy on Climate Finance - page 18 "SCOPE FOR CLIMATE FINANCE POLICY IN KENYA AND TARGET SECTORS"

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(2) - Page 3 - 1. Use of Proceeds from the issuance

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(1) - Principle 4 - Implementation - p.15 (7)

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(4) - page 9 (Use of proceeds) (3) - page 7

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Annex 11 (p56-57)

Renewable energy projects; Energy efficiency projects; Effluents (wastewater) treatment plants; Waste recycling and reuse; Water consumption reduction.

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(3) - 2.0 (4) - Eligible Projects

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(1) - 4.2.3 p15-16

The Green Financing Portfolio: An indicative but not exhaustive structure of green financing portfolios of banks/DFIs may include the following sectors:

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(2) - page 5 - 3. Productos verdes

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(3) - page 12 -

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(2) - Introduction page 6 & 7 and from 11

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(1) 3.1.1 Sustainable/Green Loan

Innovate loan/saving products for energy efficiency, green building, green urban infrastructure, water saving and efficiency, and climate-smart agriculture through project loans, corporate loans, green mortgage loans,

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(2) - page 3 - 2.3.a)

Decision No. 1552QD-NHNN - page 3 - 2.3.a)

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(4) - Page 36 to 41

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(7) - from page 7

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(3) - page 8

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(7)

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(3) - page 12 -

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Correspondence No 9050-NHNN and Decree 40/2019

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(1) - page 25 - table 5.2

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(3) - page 7

Kenya green Bond Principles - page 7

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(7) (8)

Mail translation by Oyungerel Munkhbat (MSFA) Activities: • Define sustainable and green finance, and develop a set of green taxonomy

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(3) - page 8 & 9

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(1) 3.1.1 Sustainable/Green Loan (1) 3.1.2 Sustainable/green leasing (1) 3.1.5 Other sustainable/green products

- Develop sustainable saving products to mobilize small savings for sustainable activities

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(1) - Page 2 - 1.4.

Policy Guidelines for Green Banking - Page 2 - 1.4.

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(2) - Page 13 - 5.3

Implementation Guidelines V4 - Page 13 - 5.3

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(6) - page 8 (§2) (3) - 3.12.1 to 3.12.4

"The green financial system refers to the institutional arrangement that utilizes financial instruments such as green credit, green bonds, green stock indices and related products, green development funds, green insurance, and carbon finance,as well as relevant policy incentives to support the green transformation of the economy"

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(3) - page 8 §1, page 13 §3, page 14 §4

page 14 §4: In the Non Bank Financial Industry sector (IKNB), financing increase can be done by encouraging the industry players to insure their business within the framework of minimizing environmental risk. In addition, the industry players are also encouraged to design an environmentally friendly insurance product to provide greater variety of product options to the public.

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(1) - Principle 4 - Implementation - p.15

In developing its approach a Bank should consider its core business and existing mix of products and services, as well as new market opportunities to develop appropriate “green” products or services. In addition, specific measures should be taken to educate and support clients to understand the business benefits of “greener” operations. Examples of how a Bank could implement “green” products and services are provided below: - Personal banking – Green credit/debit cards; green savings accounts; green credit schemes; green mortgages; - SME and Corporate Banking – Assigning dedicated amounts of investment capital for green/socially responsible lending; green leasing for corporate real estate, provide consulting services on environmental best practices; - Project finance – Preferentially financing projects that aim to have a positive environmental impact and demonstrate strong capabilities in environmental management; support and develop new finance opportunities for new projects that use advanced and renewable technologies; - Investment Banking – Investment portfolios focused on environmentally and socially responsible clients and projects; reward and financing schemes for the reduction of GHGs or pollutants; issue green bonds.

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(1) - page 14 (Banking sector, §2), 15, 16 (III.) (3)

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(2) - page 5 - 3. Productos verdes

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(1) 3.1.2 Sustainable/green leasing (1) 3.1.5 Other sustainable/green products

- Explore a sustainable model of leasing that could extend the lifecycle of equipment, machinery and appliances to promote a circular economy and sustainability - Explore specialized investment instruments to mobilize savings/assets and catalyze them towards sustainable investments - Explore insurance solutions for environmental risks and social inclusion. These could include climate and disaster insurance, crop insurance and home insurance to protect farmers and homeowners especially against the loss of crops and damage to property due to natural disasters. Pollution liability insurance could also be developed to better manage environmental risks and reduce losses from environmental pollution

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(1) - Page 3 - 1.4.

Policy Guidelines for Green Banking - Page 3 - 1.4.

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(1) - page 61 - 6 a 2) table 7.3

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(1) - Principle 4 - p.16

Examples of how a Bank could implement “green” products and services are provided below: - Personal banking – Green credit/debit cards; green savings accounts; green credit schemes; green mortgages; - SME and Corporate Banking – Assigning dedicated amounts of investment capital for green/socially responsible lending; green leasing for corporate real estate, provide consulting services on environmental best practices;

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(1) 3.1.1 Sustainable/Green loan

The banking sector plays a critical role in Sri Lanka’s financial system and is regarded with high capacity to mobilize financial resources to support sustainable development. Activities that could further the greening of the banking sector include

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(2) - page 3 - 2.3.a)

Decision No. 1552QD-NHNN - page 3 - 2.3.a)

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(4) - Introduction, and Page 44 - 5.2.

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(6) - page 10 (§12 and §16)

"Improve the rules and regulations for green bonds and unify the green bond definitions. Research and improve the relevant regulations and self-discipline rules for issuance of green bonds." "Support the development of green bond indices, green equity indices and related products."

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(1) - Strategy 1 - A) & B)

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(3) - page 21

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(3) - page 10 (4) - page 8 (Green Guidelines and Standards)

Kenya green Bond Principles - page 10 NSE Listing Rules - page 8 (Green Guidelines and Standards)

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(2) - Page 2 - I. Introduction

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(1) - Principle 4 - p.16

Investment Banking – Investment portfolios focused on environmentally and socially responsible clients and projects; reward and financing schemes for the reduction of GHGs or pollutants; issue green bonds.

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(4) (3) (1) - page 15 (Capital market, §6)

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(3) (4) Green Bond Principles

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(3)

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(3) - Green Segment 6.10 (p49)

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(1) 3.1.3 Sustainable/Green Bond

The global green bond market has grown rapidly in the past years and provides investors a new way to meet green investment goals

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(4)

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(4) - Introduction, and Page 44 - 5.2.

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(7) - page 2, part II., §1

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(3) - 5.2.2 Segundo Objetivo: Definir inversión verde en Colombia con sus categorías y subcategorías.

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(1) - Increasing Awareness and Capacity Building - p.9

With the purpose of increasing awareness about the sustainable finance, ICMA principles have been translated in Georgian language. It is now available on the ICMA website, which also signals international investors about the sustainable finance development on Georgian market. ICMA principles are updated on annual basis and the NBG in cooperation with the private sector has provided the translation of updated documents and will continue to do so

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(3) - page 7 (4) - page 8 (Green Guidelines and Standards)

Kenya green Bond Principles - page 7 NSE Listing Rules - page 8 (Green Guidelines and Standards)

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(2) - Page 2 - I. Introduction

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(4) - page 19 (Useful links)

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(4) - Eligible Projects (5) - 2.3 Compliance with the GBP

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(3) - page 11

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(3) - Green Segment 6.10 (p49)

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(1) 3.1.3 Sustainable/Green Bond - For regulators and stock exchange

Such guidance and tools should take into account both local sustainable development needs and international standards and principles such as those by Climate Bonds Initiative (CBI) and International Capital Market Association (ICMA)

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(4) - Introduction, and Page 44 - 5.2.

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(6) - page 10 (§14)

"Explore ways to formulate standards for third party verification of green bonds and green credit rating. Standardize the quality requirements for third party verification of green bonds. Encourage institutional investors to make use of green verification reports in investment decision-making."

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(3) – page 3, 6, 22

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(3) - page 8 (2.) & page 11 (Part 5.) (4) - page 20 (Procedure for admission to listing for Green Bonds - 2.13.1)

Kenya green Bond Principles - page 8 (2.) & page 11 (Part 5.) NSE Listing Rules - page 20 (Procedure for admission to listing for Green Bonds - 2.13.1)

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(2) - Page 4 - 5. Independent review

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(4) - page 7 (§5) (3) - page 19 (Independant review) (5) - page 52 - V.6

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(3) - 3.0 iv

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(3) - Green Segment 6.12 (p50)

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(1) 3.1.3 Sustainable/Green Bond - For regulators and stock exchange

Encourage the adoption of external verification, which could benefit green bond issuance by increasing investor confidence in the environmental credentials of the marke

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