The CARICOM Committee of Central Bank Governors and the International Finance Corporation (IFC), have collaborated to develop a regional green finance taxonomy that is expected to pave the way for greater investment in climate-friendly projects and help drive more inclusive and sustainable economic growth, to the benefit of the English-speaking Caribbean.
The IFC in a release on Wednesday informed that under a cooperation agreement, the CARICOM Committee of Central Bank Governors and the IFC, part of the World Bank Group, will work together to develop guidelines and parameters to clearly define green assets. The new taxonomy, it explained, will deepen climate finance options in the English-speaking Caribbean, encouraging more lending and investment to support each country’s climate mitigation and adaptation goals, and boost green jobs creation.