Company: ADZCF
Filing Date: 2025-03-13
Form Type: 20-F
Source: 0001159508-25-000020
Chunk: 89

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-03-13
Form: 20-F
Chunk 89
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 included supply chain due diligence legislation, anti-greenwashing guidelines through naming and marketing rules as well as regulation of ESG ratings providers. Environmental Taxonomy– Building onto EU Taxonomy developments over the course of 2023, 2024 saw significant developments outside the EU. On December 20, 2024, the Association of Southeast Asian Nations (ASEAN) Taxonomy for Sustainable Finance V3 was published. It is designed as a reference point for classifying projects and activities as sustainable, so issuers and investors have better understanding of environmental objectives. The ASEAN Taxonomy includes a Foundation framework for countries that are establishing a principles-based taxonomy, and a Plus Standard, which is threshold-based. In May 2024, the Hong Kong Monetary Authority (HKMA) also published the Hong Kong Taxonomy for Sustainable Finance, to enable informed decision making on green and sustainable finance and facilitate relevant finance flows. Encompassing twelve economic activities from four sectors: Power Generation, Transportation, Construction and Water Management, HKMA references other frameworks, such as the Common Ground Taxonomy, China’s Green Bond Endorsed Projects Catalogue and the EU’s Taxonomy for Sustainable Activities. Other global taxonomy developments include Costa Rica publishing their first green Taxonomy in August 2024, designed to be compatible to the EU’s Taxonomy Regulation as well as those from Mexico and Colombia, facilitating better comparisons for investors across the different regions. Building upon the release of taxonomies to align financial flows with low-carbon activities, 2024 also saw the further development of transition plan frameworks and transition finance frameworks. In November 2024, the International Organization of Securities Commissions (IOSCO) published a report detailing considerations for transition plans around consistency and transparency, legal and regulatory clarity as well as building capacity. The UK has seen a number of publications including the finalization of the Transition Plan Taskforce (TPT)’s final report on transition plans. The TPT was launched in 2022 to develop a standard for private sector climate transition plans. Final sectoral guidance, Just Transition and final implementation guidance was also released by TPT in April 2024, with the IFRS Foundation announcing in June 2024 that it will assume responsibility for the disclosure specific materials developed by TPT. TPT also contributed into the Transition Finance Market Review (TFMR), an independent market-led review exploring barriers to scale a transition finance market in the UK and globally. Transition Finance frameworks are crucial to avoid carbon lock-ins and increase credibility of investments. After a call for