Taxonomy Roadmap for Chile

The report outlines a framework for Chile to establish a national green taxonomy, recommending a pathway of adopting and adapting international standards (such as the EU and CBI taxonomies) while leading the development of criteria for sectors unique to its economy, specifically mining. It identifies Energy, Transport, Construction, and Industry as priority sectors for mitigation and emphasizes the parallel development of adaptation and resilience criteria. The roadmap proposes a three-tier governance structure involving government ministries, financial regulators, and technical experts to ensure the taxonomy is science-based, binary, and aligned with the Paris Agreement's 1.5°C goal.

• The recommended development strategy for Chile is to 'adopt, adapt, and lead': first adopting international taxonomies where possible, adapting them to local circumstances, and taking global leadership in underdeveloped areas.
• Energy, Transport, Construction, and Industry are identified as the priority sectors for climate change mitigation based on an analysis of GHG emissions, GDP, and financial parameters using the ELECTRE multi-criteria decision-making method.
• Chile has a significant opportunity to lead the international development of eligibility criteria for the mining sector, particularly for minerals essential to the low-carbon transition like lithium and copper, as no international precedent currently exists in other taxonomies.
• Screening criteria for the taxonomy must be binary, quantifiable, and science-based, aligning with the Paris Agreement's 1.5°C target rather than just national policy priorities.
• The roadmap suggests a three-tier governance structure: Tier-1 (Taxonomy owners like the Ministry of Finance and Ministry of Environment), Tier-2 (Coordinators and advisors such as the IDB and CBI), and Tier-3 (Technical and industry experts).
• It is recommended that the taxonomy initially focus on green debt instruments—including bonds, loans, and asset-backed securities—before expanding to other financial products or entity-level reporting.
• Adaptation and resilience criteria should be developed in parallel with mitigation, utilizing vulnerability risk assessments linked to local and regional adaptation plans.
• To ensure environmental integrity, the taxonomy should incorporate a 'Do No Significant Harm' (DNSH) principle and minimum social 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} }