Having published TSC for Electricity, Gas, Steam and Air Conditioning Supply (Energy) sector in ASEAN Taxonomy Version 2, the ASEAN Taxonomy Version 3 introduces TSC for two more focus sectors, namely Transportation & Storage and Construction & Real Estate. The new focus sectors cover activities including construction and renovation of buildings, demolition and site preparation, and acquisition and ownership of buildings, as well as urban and freight transport, and infrastructure for land, water, and air transport, among others.

The Green tiers for these new focus sectors have been aligned, where appropriate with relevant sectoral guidelines and regulations (e.g. International Maritime Organisation (IMO) 2023 GHG Emissions strategy, International Green building certifications), to ensure that the ASEAN Taxonomy remains credible, interoperable, and inclusive while reducing regulatory fragmentation. The Green tier of the ASEAN Taxonomy continues to make reference to widely used international taxonomies such as the EU Taxonomy and where relevant, will be tailored according to ASEAN’s unique circumstances. The Amber tiers serve as a transition category, providing a useful stepping stone for companies to learn and make adjustments to their activities in pursuit of the Green tier.

In addition to the new TSC, the ASEAN Taxonomy Version 3 also includes refinements to the Annexes that provide more clarity to the user. The changes include: