Hoja de Ruta para una Taxonomía en Chile

The report 'Hoja de Ruta para una Taxonomía en Chile' provides a strategic framework for Chile to develop a national green taxonomy. It recommends an 'adopt, adapt, and lead' approach, prioritizing the Energy, Transport, Construction, and Industry sectors. It emphasizes the need for science-based, binary eligibility criteria aligned with the 1.5°C Paris Agreement goal and suggests that Chile take a global leadership role in defining criteria for the mining sector. The roadmap proposes a three-level governance structure and recommends initially focusing the taxonomy's application on green debt instruments.

• The report recommends a three-step approach for Chile to develop its national taxonomy: 'adopt, adapt and lead'. This involves adopting international taxonomies where possible, adapting existing ones to local circumstances, and exercising global leadership in developing criteria for under-developed areas, specifically mining.
• The report identifies Energy, Transport, Construction, and Industry (specifically mining) as the priority sectors for mitigation based on their relevance to the Chilean economy and their greenhouse gas (GHG) emissions.
• Chile has a significant opportunity to lead the international development of eligibility criteria for the mining sector, as no international precedents currently exist in existing taxonomies. The focus should be on the extraction of strategically relevant minerals for a low-carbon transition, such as lithium and copper, without causing significant harm to environmental objectives.
• The report suggests that the taxonomy should initially focus on green debt instruments—such as bonds, loans, and asset-backed securities (ABS)—before expanding to other financial products, entities, or large companies.
• The proposed governance structure for the taxonomy is divided into three levels: Level 1 (Owners/Supervisors, e.g., Ministry of Finance, Ministry of Environment, Central Bank), Level 2 (Coordinators and advisors, e.g., IDB, CBI), and Level 3 (Technical and industry reviewers, e.g., Ministry of Science, various industry associations).
• Eligibility criteria for the taxonomy must be binary, quantifiable, and based on science to ensure transparency and avoid 'greenwashing'. They should be aligned with the Paris Agreement's 1.5°C goal rather than just national NDCs, as the latter are often insufficient.
• The report emphasizes that adaptation and resilience activities must be developed in parallel with mitigation, as both are equally critical for Chile's climate challenges. Adaptation criteria should be intersectoral and linked to local and regional adaptation plans.
• To ensure that one environmental objective does not compromise another, the report recommends adopting the 'Do No Significant Harm' (DNSH) principle, similar to the EU Taxonomy, and incorporating minimum social safeguards based on OECD and UN guidelines.
• The report identifies specific 'fast-track' activities that can be adopted or adapted quickly from international taxonomies to accelerate the process, such as solar photovoltaic and wind energy, which could be directly eligible.

APA

Vidyaranya, V., Kidney, S., Gasparotto, T., Contreras, V. D., Boulle, B., Moore, S., & Galarce, A. (2021). Hoja de Ruta para una Taxonomía en Chile. Climate Bonds Initiative. https://www.climatebonds.net/files/documents/publications/Hoja-de-Ruta-para-una-Taxonom%C3%ADa-en-Chile_2025-02-17-162933_jqjc.pdf

Chicago

Vidyaranya, Vishwas, Sean Kidney, Thatyanne Gasparotto, Valeria Dagnino Contreras, Bridget Boulle, Stephanie Moore, and Alfonso Galarce. Hoja de Ruta para una Taxonomía en Chile. Climate Bonds Initiative, 2021. https://www.climatebonds.net/files/documents/publications/Hoja-de-Ruta-para-una-Taxonom%C3%ADa-en-Chile_2025-02-17-162933_jqjc.pdf.

Wikipedia

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BibTeX

@techreport{vidyaranya2021hoja, author = {Vidyaranya, Vishwas and Kidney, Sean and Gasparotto, Thatyanne and Contreras, Valeria Dagnino and Boulle, Bridget and Moore, Stephanie and Galarce, Alfonso}, title = {{Hoja de Ruta para una Taxonomía en Chile}}, institution = {Climate Bonds Initiative}, year = {2021}, month = may, url = {https://www.climatebonds.net/files/documents/publications/Hoja-de-Ruta-para-una-Taxonom%C3%ADa-en-Chile_2025-02-17-162933_jqjc.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }