Sustainable Finance Taxonomy
The Sustainable Finance (SF) Taxonomy provides a classification system for identifying activities that deliver on key climate, green, social, or sustainability objectives. The main purpose of the taxonomy is to support the development of a sustainable finance market and consequently contribute to the country’s sustainable development.
The SF Taxonomy adopts a broad perspective when defining the sustainable finance and thus, in addition to green finance, it also includes social finance. Green taxonomy provides a list of activities that aim to achieve environmental objectives and contribute to the development of a green economy. Social taxonomy, on the other hand, proposes a list of categories focused on achieving social objectives primarily but not exclusively for target population. Apart from that, green/social activities that have social/green co-benefits are considered as sustainable activities.
The SF Taxonomy was developed by the National Bank in collaboration with local and international experts and stakeholders. Taxonomy categories and corresponding technical criteria are developed in accordance with the best international practice, while the characteristics of the Georgian economy are also well-integrated. All this contributes to the usability of the taxonomy and guarantees its credibility both locally and internationally.