The National Bank of Moldova, supported by the International Finance Corporation (World Bank Group), is developing a sustainable finance taxonomy to steer investment toward environmentally friendly economic activities in line with Moldova’s European Union accession commitments. The taxonomy is described as a classification system with clear criteria for identifying environmentally sustainable activities, intended to channel capital toward projects and companies that support environmental protection, reduce carbon emissions and use resources efficiently, while helping to prevent greenwashing. A preliminary version has been discussed in meetings with the Sustainable Finance Advisory Group, financial-sector representatives and the IFC project team; the advisory group includes the National Bank of Moldova, the National Commission for Financial Markets, relevant ministries and the Association of Banks of Moldova, operating under a memorandum of understanding with the Government of Moldova. The draft will be adjusted based on implementation challenges and proposals raised in these discussions, then finalised as a normative act and submitted for public consultation. The central bank will continue stakeholder dialogue, while the IFC Sustainable Finance in Moldova project, supported by the Facility for Investment Climate Advisory Services, will contribute over the next three and a half years to developing Moldova’s sustainable finance framework.

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