Zambia Launches First-Ever Green Finance Taxonomy in Africa
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The Government of the Republic of Zambia unveiled the Zambia Green Finance Taxonomy (ZGFT), a landmark national framework that places the country among Africa’s frontrunners in sustainable finance. Developed through the Green Finance Mainstreaming Working Group with technical support from the United Nations Development Programme’s (UNDP) Biodiversity Finance Initiative (BIOFIN), funded also by the EU.
The launching of the green taxonomy is a further step to make Zambia attractive for European investors and financiers and opens the door to an increased use of green bonds. Zambia taxonomy is benchmarked with the taxonomy of EU, South Africa and Kenya, thus providing the country with a competitive advantage in the region. It is developed around 8 objectives that are aligned with the EU green priorities:
Climate change adaptation, Biodiversity and ecosystems protection and restoration (Forestry sector), Pollution Prevention, Climate Change mitigation, Sustainable use of resources and circularity, Sustainable use of water and water security.
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