Superintendency of Banks of the Dominican Republic concludes green taxonomy pilot classifying 7,545 credit operations across six financial institutions

The Superintendency of Banks of the Dominican Republic has concluded a pilot programme to implement the country’s green taxonomy, classifying loans at six financial institutions against the taxonomy’s sustainability criteria. The work was supported by the International Finance Corporation and the World Bank, and the results were presented to participating institutions and partners. Over a six-month review, the Superintendency analysed 7,545 credit operations, describing the pilot as the largest green taxonomy exercise in Latin America and the second of its kind in the wider region. The findings indicate that participating institutions’ environmental management is still developing, with increasing efforts to integrate environmental, social and governance policies, green financial products and climate risk management mechanisms. The review also identified a need to strengthen communication and commitment across organisational levels so sustainability policies are reflected in day-to-day operations and aligned with the taxonomy’s specific objectives. Ahead of the pilot, the Superintendency ran a diagnostic survey of 43 supervised entities on climate, environmental and social risk management and the state of green finance in the country. It signalled that it aims to see broader adoption of the green taxonomy over time and outlined next steps on environmental, social and climate risk management.