Green building rating tools align with ASEAN taxonomy

Green building rating tools align with ASEAN taxonomy

The World Green Building Council (WorldGBC) and OCBC have released a report analysing how Asia Pacific’s green building rating tools align with the ASEAN Taxonomy for Sustainable Finance. The study, titled Unlocking Capital: Aligning Asia Pacific’s Green Building Rating Tools to the ASEAN Taxonomy for Sustainable Finance, reviews 32 rating tools across 16 certification schemes covering new construction, building ownership, and retrofits.

The report provides the first detailed, credit-by-credit comparison of building certification criteria with the ASEAN Taxonomy’s technical screening criteria and “do no significant harm” principles. A technical appendix offers detailed mapping of each tool’s performance against these benchmarks.

Key findings

Findings indicate that rating tools show strong alignment with climate mitigation objectives, particularly energy performance. However, gaps remain in criteria covering climate adaptation, circular economy, and construction site practices, although some rating systems are updating their frameworks to address these areas.

Among the schemes studied, Australia’s Green Star Buildings and Singapore’s Green Mark 2021 demonstrated the strongest alignment with the ASEAN Taxonomy. The report highlights the importance of cross-sector collaboration to improve interoperability between green building frameworks and financial disclosure standards.

The purpose

Cristina Gamboa, CEO of WorldGBC, said, “Aligning green buildings with sustainable finance is essential to accelerate the transition we need. This report gives investors and policymakers clarity to channel capital into buildings that deliver both climate impact and economic resilience.”

Mike Ng, Group Chief Sustainability Officer of OCBC, added, “Accelerating sustainable finance in the built environment requires not just capital, but clarity. This guide empowers stakeholders to make informed, climate-aligned investment decisions.”

The report recommends improving transparency, integrating adaptation and resilience criteria, and setting clear roadmaps linked to national climate goals. It is intended as a resource for policymakers, investors, and rating tool developers across Asia Pacific.

Source: Construction Week