SUPPORTING THE IMPLEMENTATION OF THE RWANDA GREEN TAXONOMY: CLIMATE-FRIENDLY ECONOMIC POLICY AND FINANCING
As part of the GIZ project, 'Climate-friendly economic policy and financing', GFA Consulting Group and RiskSphere are helping to implement the Rwanda Green Taxonomy (RGT). The objective is clear: to strengthen the regulatory and market framework in order to mobilise public and private capital for Rwanda’s socio-ecological transformation.
Close collaboration with Rwanda’s Ministry of Finance and Economic Planning (MINECOFIN) is at the heart of the initiative, as the ministry plays a central role in embedding climate and sustainability considerations into fiscal policy, financial regulation and public investment planning. During our kick-off meetings in Kigali, we met with MINECOFIN representatives, as well as those from the National Bank of Rwanda and other key institutions, to agree on priorities, governance structures and milestones.
The project focuses on the core pillars of:
- Integrating the RGT into national policies and regulations, and aligning instruments such as Climate Budget Tagging (CBT) and financial sector guidelines with taxonomy criteria.
- Piloting implementations with selected financial institutions, translating taxonomy requirements into internal processes, reporting templates and green product development.
- Building capacity among regulators, financial institutions, and training institutes.
“Rwanda has been leading the way in transforming markets through focused policy and investment efforts. The roll-out of the Green taxonomy spans both the public and private sectors and offers a chance to further promote wider greening and sustainable practices”, notes GFA team lead Marta Simonetti. The project aims to institutionalise sustainable finance practices and contribute to Rwanda’s long-term climate and development goals by combining regulatory integration, practical pilots and a structured training-of-trainers approach.
We look forward to collaborating closely with MINECOFIN and the wider financial community to establish the RGT as an active instrument within Rwanda’s financial market.
> Learn more about the project.
