Taxonomy Roadmap for Chile

The Taxonomy Roadmap for Chile, published by the Climate Bonds Initiative in May 2021, provides a strategic framework for the Chilean government to develop a national sustainable classification system. The report recommends a phased approach—adopting, adapting, and leading—to align Chile's green finance with international standards (such as the EU and China taxonomies) while addressing local economic specificities, particularly in the mining sector. It outlines governance structures, priority sectors for decarbonization, and the application of the taxonomy to green debt instruments to mobilize capital for Chile's goal of carbon neutrality by 2050.

• The recommended strategy for Chile to develop a national taxonomy is to 'adopt, adapt, and lead.' This involves first adopting international taxonomies where possible, adapting them to local circumstances, and taking global leadership in developing criteria for underdeveloped areas.
• Chile has a significant opportunity to lead the international community in establishing eligibility criteria for the mining sector, as existing international taxonomies lack a precedent for this industry. The focus should be on minerals essential for the low-carbon transition, such as lithium and copper.
• Based on financial parameters and emissions data, the priority sectors for the initial phased development of the taxonomy are Energy, Transport, Construction, and Industry.
• The report advises that the taxonomy should initially be applied to green debt instruments—including bonds, loans, and asset-backed securities—before expanding to other financial products or entity-level reporting for large companies.
• To ensure credibility, screening criteria for the Chilean taxonomy should be binary, quantifiable, and based on science to align with the Paris Agreement's 1.5°C goal rather than just national policy priorities.
• The proposed governance structure for the taxonomy's development consists of three tiers: Tier-1 (Taxonomy owners such as the Ministry of Finance and Ministry of Environment), Tier-2 (Project coordinators and advisors), and Tier-3 (Technical and industry reviewers).
• The report emphasizes that adaptation and resilience criteria must be developed in parallel with mitigation efforts, utilizing vulnerability risk assessments and local/regional adaptation plans.
• For social aspects, the report suggests that Chile utilize existing national laws and international safeguards, such as the OECD Guidelines for Multinational Enterprises and UN Guiding Principles on Business and Human Rights.

APA

Climate Bonds Initiative (2021). Taxonomy Roadmap for Chile. https://www.climatebonds.net/files/documents/publications/Taxonomy-Roadmap-for-Chile.pdf

Chicago

Climate Bonds Initiative. Taxonomy Roadmap for Chile. 2021. https://www.climatebonds.net/files/documents/publications/Taxonomy-Roadmap-for-Chile.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=Taxonomy Roadmap for Chile |date=May 2021 |url=https://www.climatebonds.net/files/documents/publications/Taxonomy-Roadmap-for-Chile.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative2021taxonomy, author = {{Climate Bonds Initiative}}, title = {{Taxonomy Roadmap for Chile}}, institution = {Climate Bonds Initiative}, year = {2021}, month = may, url = {https://www.climatebonds.net/files/documents/publications/Taxonomy-Roadmap-for-Chile.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }