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The Taxonomy Roadmap Initiative Progress Report (November 2025) details the global expansion of sustainable finance taxonomies, noting that over 60 are currently in use or development. While high-level interoperability is increasing—with 64% using ISIC-based sector structures and 100% of published taxonomies covering climate mitigation—granular alignment remains difficult. The report highlights that implementation is still in early stages in emerging markets and announces the launch of new tools at COP30, including the Sustainable Finance Taxonomy Mapper and Principles for Taxonomy Interoperability, to catalyze cross-border capital flows.

This executive summary introduces the 'Principles for Taxonomy Interoperability,' a contribution to COP30 developed by the Roadmap for Advancing Interoperability and Comparability of Sustainable Finance Taxonomies initiative. The document outlines seven principles designed to help policy designers and developers create sustainable finance taxonomies that are interoperable, usable, and credible, thereby facilitating the international flow of capital between developed and emerging markets.

This executive summary introduces the 'Principles for Taxonomy Interoperability,' a contribution to COP30 developed under the 'Roadmap for Advancing Interoperability and Comparability of Sustainable Finance Taxonomies.' The document provides seven guiding principles for policymakers and taxonomy developers to ensure that sustainable finance classifications are comparable across different jurisdictions, facilitating the cross-border flow of capital between developed and emerging markets.

This guide presents the 'Principles for Taxonomy Interoperability,' developed under the 'Roadmap for Promoting Interoperability and Comparability of Sustainable Finance Taxonomies' initiative. Launched at COP29 in 2024 by the Central Bank of Azerbaijan (CBAR), the initiative seeks to establish a unified taxonomy and technical guidelines for transition activities to facilitate cross-border capital flows by ensuring different sustainable finance taxonomies can be compared based on common principles or scientific baselines.

The 'Principles for Taxonomy Interoperability' report, published by the Climate Bonds Initiative in November 2025, provides a framework for sustainable finance taxonomy developers and policymakers to ensure that national and regional taxonomies are comparable and interoperable. Launched under the Taxonomy Roadmap Initiative at COP29, the document outlines seven high-level principles designed to reduce barriers to cross-border capital flows by establishing common design features, terminology, and implementation strategies while respecting jurisdictional priorities.

The 'Princípios de Interoperabilidade Taxonômica' report, published by the Climate Bonds Initiative in November 2025, provides a high-level framework to help sustainable finance taxonomy developers and policymakers increase the comparability and cross-border flow of capital. It introduces seven principles designed to align national and regional taxonomies through common languages, scientific baselines, and collaborative international efforts, supporting the broader 'Taxonomy Roadmap Initiative' launched at COP29.

In Q3 2025, the global cumulative volume of aligned GSS+ debt reached USD 6.5 trillion, with quarterly issuance of USD 233.2 billion. Non-financial and financial corporates were the leading issuer types, while the IBRD remained the most active individual issuer. Green bonds continue to dominate the market, though sustainability-labelled debt is showing increasing momentum.

This guide provides a practical perspective on the green bond market, detailing its origins, the role of the Climate Bonds Initiative's database, and the principles used to ensure capital supports climate-aligned causes.

This report by the Climate Bonds Initiative analyzes the decarbonisation pathways for the cement and steel industries in Brazil. It identifies key emission sources, evaluates emerging technologies like low-carbon hydrogen (LCH) and carbon capture and storage (CCS), and examines the financial and regulatory frameworks—including the Brazilian Emissions Trading System (SBCE)—necessary to transition these hard-to-abate sectors toward a low-carbon economy to maintain international competitiveness.

This report by the Climate Bonds Initiative analyzes the market, policies, and investment opportunities for decarbonizing the cement and steel industries in Brazil. It identifies critical emission sources, evaluates emerging technologies like low-carbon hydrogen and carbon capture, and outlines the regulatory landscape, including the Brazilian Emissions Trading System (SBCE) and the EU's Carbon Border Adjustment Mechanism (CBAM).

The 'Criteria for Certification against the Climate Bonds Resilience Taxonomy' provides interim guidelines for certifying climate resilience investments listed in the Climate Bonds Resilience Taxonomy (CBRT). It establishes a three-part requirement for certification: demonstrating a substantial contribution to resilience, managing maladaptation risks, and ensuring no significant harm to climate mitigation objectives. The document details the assessment processes for different investment types, including adapted activities, adapting measures, enabling activities, and enabling measures.

The Hong Kong Sustainable Debt Market Briefing 2024 analyzes the performance of sustainable debt in Hong Kong through the end of 2024, highlighting a decline in locally originated debt alongside a significant increase in international GSS+ bond issuance and the launch of the Hong Kong Taxonomy.

The Climate Bonds Initiative proposes a framework called the 'Five Hallmarks of a Credibly Transitioning Company' to assess the credibility of corporate decarbonisation efforts and support the certification of non-financial corporates and Sustainability-Linked Bonds (SLBs).

The 'China Sustainable Debt Market Report 2024' provides a comprehensive analysis of China's Green, Social, Sustainability, and Sustainability-Linked (GSS+) bond market. As of the end of 2024, China's cumulative issuance of CBI-defined GSS+ bonds exceeded $500 billion, making it the world's third-largest issuer. While green bonds remain dominant, the report notes a decline in financial institution issuance in 2024, offset by growth in non-financial sectors. The report highlights the rapid growth of social and sustainability bonds, the challenges facing the sustainability-linked bond (SLB) market regarding transparency and ambition, and the specific opportunities for GSS+ financing in the Guangdong-Hong Kong-Macao Greater Bay Area.

The 'Sustainable Debt Global State of the Market 2024' report by the Climate Bonds Initiative provides a detailed analysis of aligned green, social, sustainability, and sustainability-linked (GSS+) debt as of the end of Q1 2025. It tracks cumulative volumes, quarterly trends, and the performance of various issuer types and sovereign nations, highlighting a total cumulative aligned volume of USD 5.9 trillion.

The Hong Kong Sustainable Debt Market Briefing 2024, published by the Climate Bonds Initiative, provides a comprehensive analysis of the Hong Kong Special Administrative Region (HKSAR) green, social, sustainability, and sustainability-linked bond (GSS+) market as of the end of 2024. While overall aligned GSS+ debt volume declined by 41% year-on-year to USD 10.8bn, the report highlights growth in social and sustainability bonds and the HKSAR Government's continued leadership in the Asia-Pacific region through its Sustainable Bond Programme and the introduction of the Hong Kong Taxonomy for Sustainable Finance.

This guide by the Climate Bonds Initiative provides a framework for investors to evaluate and engage with sovereign transition plans. It outlines key elements of credible planning, including science-based targets, detailed investment and policy roadmaps, and robust governance and transparency measures, aiming to help investors assess the long-term sustainability of sovereign asset exposures.

This report examines the financing of China's steel sector decarbonisation, highlighting the impact of Hebei Province's 2023 transition finance guidelines. It finds that while labelled debt (loans and bonds) is growing—with USD2.8bn in Hebei transition loans and USD3bn in labelled bonds in 2024—the sector requires USD18bn in capex over the next five years to meet EAF and H2-DRI targets. The report recommends government incentives, diversified financial products, and proactive corporate transition planning to bridge the funding gap.

This supplementary guide from the Climate Bonds Initiative establishes interim process criteria for certifying climate resilience investments listed in the Climate Bonds Resilience Taxonomy (CBRT) that currently lack specific sector criteria. It defines the requirements for Use-of-Proceeds and Asset Certification, focusing on substantial contributions to resilience, management of maladaptation risks, and ensuring no significant harm to climate mitigation objectives.

This guide by the Climate Bonds Initiative provides a strategic framework for corporates, investors, and policymakers in Vietnam to implement transition finance in hard-to-abate sectors, specifically steel, cement, and basic chemicals. It outlines a methodology for developing science-based transition plans aligned with the Paris Agreement, featuring a 'Five Hallmarks' approach to ensure targets are credible, actionable, and transparent. The document also provides sector-specific decarbonisation levers, emissions intensity thresholds, and a five-tier maturity scale for financial institutions to assess corporate transition progress.