The Central Bank of Madagascar has launched a public consultation on a draft national green taxonomy that would provide banks, companies, government bodies, regulators and investors with common criteria for identifying environmentally sustainable economic activities. The framework is intended to direct financing toward Madagascar’s environmental and climate objectives while reducing the risk that funding is inaccurately presented as green. The draft covers more than 100 activities across energy, transport, agriculture and forestry, fisheries and the blue economy, water and waste, construction and industry. Activities are assessed against six objectives spanning climate mitigation and adaptation, water and marine resources, the circular economy, pollution prevention, and biodiversity and ecosystems. The framework also requires activities to cause no significant harm to other objectives and meet minimum social safeguards. The Finance Ministry, Environment and Sustainable Development Ministry and central bank developed the proposal with technical support from the International Finance Corporation and Climate & Company, following technical discussions with more than 100 national experts in June 2026. The initiative follows the central bank’s broader work on environmental protection and sustainable development, and a revised final taxonomy is scheduled for publication in November 2026.
2026-09-04Central Bank of Madagascar
Central Bank of Madagascar launches consultation on draft green taxonomy covering more than 100 activities
The Central Bank of Madagascar is consulting on a draft green taxonomy covering more than 100 activities across key economic sectors. The framework sets criteria against six environmental objectives, including no significant harm and minimum social safeguards, to support credible green financing. A revised final version is scheduled for November 2026.