Santa Cruz leads Bolivia's green future with its first Sustainable Finance Taxonomy

Santa Cruz, Bolivia, has taken a significant step towards sustainable development with the launch of its first Sustainable Finance Taxonomy. This pioneering tool, developed in collaboration with the UN Development Programme and Pacto Global Red Bolivia, aims to attract responsible investments and accelerate the region's economic growth while safeguarding the environment.

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The taxonomy will allow us to orient public and private investment towards activities that generate economic growth with positive environmental impact and social commitment, in line with the vision promoted by Governor Juan Pablo Velasco.

The taxonomy establishes clear, transparent criteria for identifying economic activities and projects that genuinely contribute to environmental preservation and climate resilience. This positions Santa Cruz at the forefront of green finance in Latin America. The initiative was officially presented to leaders from the public and private sectors, finance, academia, and international cooperation, who validated and consolidated a financial roadmap tailored to the department's productive reality.

José Luis Pérez, Santa Cruz's departmental finance secretary, highlighted the taxonomy's role in guiding public and private investment toward activities that foster economic growth with positive environmental and social impact. "The taxonomy will allow us to orient public and private investment towards activities that generate economic growth with positive environmental impact and social commitment, in line with the vision promoted by Governor Juan Pablo Velasco," he stated.

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The sustainable finance taxonomy represents an important step to strengthen the department's competitiveness and accelerate the achievement of the Sustainable Development Goals.

The classification system focuses on five key sectors with significant potential for environmental mitigation and competitiveness: agro-industry, forests and sustainable land use, water resources, energy, and construction and infrastructure. Lucía Sossa, executive director of Pacto Global Red Bolivia, emphasized that the taxonomy is crucial for strengthening the department's competitiveness and accelerating the achievement of the Sustainable Development Goals. Marcelo Arroyo, a Sustainable Finance Specialist at the UNDP, added that the taxonomy is a tool that creates a common language to guide investment toward value-generating activities.

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The Santa Cruz taxonomy is not an end in itself. It is an instrument. A tool that creates a common language that contributes to...