ASEAN Member States approach sustainable finance taxonomies

The ASEAN Member States (Indonesia, Malaysia, Philippines, Singapore, and Thailand) developed or implemented sustainable finance taxonomies to align with the regional ASEAN Taxonomy. This initiative began with Malaysia’s taxonomy in April 2021 and concluded with Thailand’s recent publication consultation in January 2025. The taxonomies aim to categorize sustainable economic activities to aid in achieving climate and environmental commitments. The ASEAN Taxonomy was first introduced in November 2021, and significant overlap in sector coverage among national taxonomies has been observed as they adapt their criteria to align with the ASEAN framework.