Costa Rica
Country layer — v1.1 (incl. Costa Rica GF Taxonomy Aug 2024)
- Costa Rica Green Finance Taxonomy — Overview
- Costa Rica NDC & Carbon Neutrality
- Costa Rica-Colombia Taxonomy Alignment
- Costa Rica Cleantech Taxonomy Crosswalk
- Costa Rica CTH Presence & Data Coverage
Costa Rica Green Finance Taxonomy — Overview
Overview
| Field | Value |
|---|---|
| country | Costa Rica |
| gf_taxonomy | BCCR Green Finance Taxonomy (Aug 2024) |
| ndc_target | Max 11,380 Gg CO2e by 2030; 53% reduction budget 2025-2035 |
| carbon_neutrality | 2050 |
| last_updated | 2026-05-26 |
Background
Costa Rica launched its Taxonomía de Finanzas Sostenibles in August 2024, making it the third country in Latin America (after Colombia and Mexico) to establish a green finance taxonomy. The taxonomy was developed under the joint leadership of the Ministry of Environment and Energy (MINAE), the Ministry of Finance, the Central Bank of Costa Rica (BCCR), and the four financial regulators (SUGEF, SUGEVAL, SUPEN, SUGESE), with contributions from over 300 experts representing more than 180 organizations across public and private sectors, NGOs, and academia.
Sectors Covered
The taxonomy identifies eight priority economic sectors for sustainable investment:
- Electricity, Gas, Steam & Air Conditioning Supply — renewable energy generation, grid efficiency, geothermal (Costa Rica generates ~95% renewable electricity)
- Construction — green buildings, energy-efficient construction, sustainable materials
- Transport — electromobility, public transit electrification, low-carbon logistics
- Manufacturing — clean industrial processes, resource efficiency
- Solid Waste Management & Emissions Capture — waste-to-energy, circular economy, recycling infrastructure
- Water Supply & Treatment — water infrastructure, wastewater treatment, watershed management
- Information & Communication Technologies — ICT for sustainability monitoring, smart grids, environmental data platforms
- Land Use (Agriculture, Livestock & Forestry) — sustainable agriculture, reforestation, silvopastoral systems, PES programs
Environmental Objectives
The initial phase prioritizes two environmental objectives: (1) climate change mitigation and (2) climate change adaptation. Future phases may incorporate additional objectives including sustainable water use, biodiversity protection, circular economy transition, and pollution prevention — following the EU Taxonomy six-objective structure.
Design Principles
The taxonomy applies a three-step eligibility test for each economic activity: (a) substantial contribution to at least one environmental objective, (b) Do No Significant Harm (DNSH) to other objectives, and (c) minimum social safeguards. This mirrors the EU Taxonomy architecture, ensuring international interoperability. The taxonomy is designed to be interoperable with the EU Taxonomy, Colombia Taxonomía Verde, and Mexico sustainable taxonomy, following the UNEP FI Common Framework for Latin American taxonomies published in 2023.
Institutional Framework
SUGEVAL (securities superintendent) oversees taxonomy application in capital markets. SUGEF applies it to banking supervision. The taxonomy supports: evaluation of credit and investment portfolio alignment, design of new green financial products, climate risk assessment of portfolios, and green bond issuance standards. Costa Rica has been active in the Green Climate Fund and receives technical support for taxonomy implementation.
Costa Rica NDC & Carbon Neutrality
Overview
| Field | Value |
|---|---|
| country | Costa Rica |
| ndc_version | Third NDC (2025-2035), submitted November 2025 |
| ndc_target_2030 | Max 11,380 Gg CO2e net emissions (incl. LULUCF) |
| ndc_budget | 132,700 Gg CO2e cumulative 2025-2035 (~53% reduction) |
| carbon_neutrality | 2050 |
| last_updated | 2026-05-26 |
National Decarbonization Plan 2018-2050
Costa Rica published its Plan Nacional de Descarbonización in February 2019, becoming one of the first countries worldwide to present a long-term decarbonization strategy aligned with the Paris Agreement. The plan targets net-zero emissions by 2050, organized in three stages: initial (2018-2022), inflection (2023-2030), and massive deployment (2031-2050). It operates through 10 decarbonization axes and 8 cross-cutting strategies covering all major economic sectors.
NDC Sectoral Targets
Costa Rica's third NDC (2025-2035), submitted at COP30 in November 2025, establishes an economy-wide emissions budget with sector-specific mitigation contributions:
- Energy: Maintain and expand near-100% renewable electricity (historically ~95% from hydro, geothermal, wind, solar). Diversify away from hydro dependence given climate-induced drought risk. Biofuel mandate of 10% ethanol in gasoline.
- Transport: Electrify public transit as the top priority. EVs reached 12% of vehicle sales in 2023. Targets include zero-emission public bus fleet and expanded electric rail.
- Agriculture & Livestock: Nationally Appropriate Mitigation Actions (NAMAs) for coffee, livestock, and rice. Sustainable agriculture practices, low-carbon livestock management, climate-smart crops.
- FOLU (Forests & Other Land Use): The LULUCF sector is a net carbon sink equivalent to over 20% of economy-wide emissions. The 2050 target requires more than doubling current sink capacity. Costa Rica pioneered Payments for Ecosystem Services (PES) globally through FONAFIFO.
- Waste: Circular economy expansion, waste-to-energy, improved landfill management, methane capture.
- Industry: Clean manufacturing processes, energy efficiency in industrial operations, decarbonization of industrial heat.
- Blue Carbon: Emerging area in the third NDC — mangrove restoration, coastal wetlands, ocean-based climate solutions.
PES Pioneer
Costa Rica's Payments for Ecosystem Services program (Pagos por Servicios Ambientales), administered by FONAFIFO since 1997, is globally recognized as a model for conservation finance. It has channeled over USD 500 million to landowners for forest conservation, reforestation, agroforestry, and watershed protection. This program directly underpins several Cleantech Taxonomy nodes in the EX sector (PES platforms, community reforestation, agroforestry).
Climate Action Context
Costa Rica generates nearly all its electricity from renewable sources and has maintained forest cover above 50% through aggressive conservation policy. The Climate Action Tracker rates Costa Rica's overall climate targets as needing to be approximately 7% more ambitious to align with 1.5°C pathways. The country's unique challenge is transport — the sector accounts for the largest share of fossil fuel use and is the primary decarbonization frontier.
Costa Rica-Colombia Taxonomy Alignment
Overview
| Field | Value |
|---|---|
| country | Costa Rica |
| comparison | Costa Rica GF Taxonomy vs Colombia Taxonomía Verde |
| shared_influence | CBI, EU Taxonomy, UNEP FI LATAM Framework |
| last_updated | 2026-05-26 |
Shared Foundations
Both Costa Rica and Colombia built their green finance taxonomies on common international foundations: the EU Taxonomy architecture (substantial contribution + DNSH + social safeguards), Climate Bonds Initiative sector criteria, and the UNEP FI Common Framework for Sustainable Finance Taxonomies for Latin America and the Caribbean (2023). This shared heritage means approximately 70% of eligible activities overlap between the two taxonomies, particularly in energy, transport, construction, and water sectors.
Sector Coverage Comparison
| Sector | Colombia TVC | Costa Rica GF | Notes |
|---|---|---|---|
| Energy | Y | Y | Both cover renewables, grid, storage. CR stronger on geothermal. |
| Transport | Y | Y | Both cover electromobility. CR more advanced in EV adoption. |
| Construction | Y | Y | Green buildings, energy efficiency. Similar criteria. |
| Water | Y | Y | Both cover treatment and supply. CR has stronger watershed focus. |
| Waste | Y | Y | Waste-to-energy, recycling, circular economy. |
| Agriculture | Y (tiered) | Y | Colombia has basic/intermediate/advanced tiers. CR uses PES framework. |
| Livestock | Y (tiered) | Y | Colombia more detailed with practice tiers for cattle. |
| Forestry | Y (tiered) | Y | Both cover reforestation. CR PES model is more established. |
| Manufacturing | Y | Y | Clean industrial processes in both. |
| ICT | Y | Y | Both include ICT for environmental monitoring. |
Key Differences
- Agricultural depth: Colombia's TVC has a three-tier practice classification (basic, intermediate, advanced) for agriculture, livestock, and forestry. Costa Rica does not tier but relies on PES eligibility and NAMA alignment.
- Hydrogen: Both countries are developing hydrogen roadmaps, but Colombia's is more advanced with a published strategy. Costa Rica's hydrogen activities are covered but less detailed.
- Fossil fuel transition: Colombia's taxonomy explicitly addresses transition activities for fossil fuels. Costa Rica, with near-100% renewable electricity, has less need for fossil transition categories.
- Blue carbon: Costa Rica's NDC explicitly includes blue carbon (mangroves, coastal wetlands). Colombia addresses this through biodiversity and LULUCF channels.
- PES integration: Costa Rica's taxonomy benefits from 25+ years of PES implementation through FONAFIFO, giving it stronger forest finance infrastructure than any other LATAM country.
Interoperability Implications for Origo
For the Cleantech Taxonomy crosswalk, the high sector overlap means most nodes that are col_gf_aligned=Y will also be cr_gf_aligned=Y. The main divergences occur in: (a) fossil fuel transition nodes (Colombia Y, Costa Rica N), (b) carbon market nodes (neither taxonomy covers directly), and (c) advanced food-tech nodes like alternative proteins (neither covers). The EX-sector LATAM extensions (PES, agroforestry, silvopastoral) align strongly with both taxonomies.
Costa Rica Cleantech Taxonomy Crosswalk
Overview
| Field | Value |
|---|---|
| country | Costa Rica |
| crosswalk_scope | 71 Cleantech Taxonomy nodes vs CR GF Taxonomy + NDC |
| gf_taxonomy_sectors | Energy, Transport, Construction, Manufacturing, Waste, Water, ICT, Land Use |
| ndc_sectors | Energy, Transport, Agriculture, Waste, LULUCF, Industry, Blue Carbon |
| last_updated | 2026-05-26 |
Methodology
This crosswalk maps each of the 71 Cleantech Taxonomy nodes against two Costa Rica regulatory instruments: (1) the BCCR Green Finance Taxonomy (August 2024) and (2) the National Decarbonization Plan / NDC (third NDC, 2025-2035). For each node, alignment is rated Y (directly covered), partial (indirectly or partially covered), or N (not covered).
Sector Summary — AFOLU (CT-AF)
| Node | Label | cr_gf_aligned | cr_ndc_aligned |
|---|---|---|---|
| CT-AF-001 | Land & Soil | Y | Y |
| CT-AF-002 | Forests & Woodlands | Y | Y |
| CT-AF-003 | Oceans & Water | Y | Y |
| CT-AF-004 | Ice & Snow | N | N |
| CT-AF-005 | Air & Atmosphere | N | partial |
| CT-AF-006 | Smart Farming | Y | Y |
| CT-AF-007 | Livestock & Fisheries | Y | Y |
| CT-AF-008 | Crops | Y | Y |
| CT-AF-009 | Alternative Meat & Seafood | N | N |
| CT-AF-010 | Alternative Dairy & Egg | N | N |
Sector Summary — Waste (CT-WA)
| Node | Label | cr_gf_aligned | cr_ndc_aligned |
|---|---|---|---|
| CT-WA-001 | Waste to Energy | Y | Y |
| CT-WA-002 | Sustainable Materials | Y | partial |
| CT-WA-003 | Textiles | N | N |
| CT-WA-004 | Recycling | Y | Y |
| CT-WA-005 | Solid Waste & Water Waste | Y | Y |
Sector Summary — Cross-Sectoral (CT-XS)
| Node | Label | cr_gf_aligned | cr_ndc_aligned |
|---|---|---|---|
| CT-XS-001 | Carbon Capture & Storage | N | N |
| CT-XS-002 | B2B Carbon Offsets | N | partial |
| CT-XS-003 | B2C Carbon Offsets | N | partial |
| CT-XS-004 | Carbon Intelligence | N | partial |
| CT-XS-005 | Carbon Accounting | N | partial |
Sector Summary — ICT (CT-IC)
| Node | Label | cr_gf_aligned | cr_ndc_aligned |
|---|---|---|---|
| CT-IC-001 | IoT & Earth Observation | Y | Y |
| CT-IC-002 | Climate Data | partial | Y |
| CT-IC-003 | Climate Finance | Y | Y |
| CT-IC-004 | Climate Risk | partial | Y |
| CT-IC-005 | Climate Insurance | N | partial |
Sector Summary — Energy (CT-EN)
| Node | Label | cr_gf_aligned | cr_ndc_aligned |
|---|---|---|---|
| CT-EN-001 | Critical Minerals | N | N |
| CT-EN-002 | Hydrogen | Y | Y |
| CT-EN-003 | Nuclear | N | N |
| CT-EN-004 | Bio & Synthetic Fuels | Y | Y |
| CT-EN-005 | Fossil Fuels (Transition) | N | N |
| CT-EN-006 | Solar | Y | Y |
| CT-EN-007 | Wind | Y | Y |
| CT-EN-008 | Geothermal | Y | Y |
| CT-EN-009 | Biomass | Y | Y |
| CT-EN-010 | Hydro Tidal & Wave | Y | Y |
| CT-EN-011 | Batteries | Y | Y |
| CT-EN-012 | Alternative Storage | partial | partial |
| CT-EN-013 | Grids | Y | Y |
| CT-EN-014 | EV Charging | Y | Y |
| CT-EN-015 | Peer-to-Peer Energy | N | N |
Sector Summary — Buildings (CT-BU)
| Node | Label | cr_gf_aligned | cr_ndc_aligned |
|---|---|---|---|
| CT-BU-001 | Construction | Y | Y |
| CT-BU-002 | Heating & Cooling | Y | Y |
| CT-BU-003 | Residential | Y | Y |
| CT-BU-004 | Commercial | Y | Y |
| CT-BU-005 | Transport Infrastructure | Y | Y |
Sector Summary — Transport (CT-TR)
| Node | Label | cr_gf_aligned | cr_ndc_aligned |
|---|---|---|---|
| CT-TR-001 | Micro Mobility | Y | Y |
| CT-TR-002 | Vehicles | Y | Y |
| CT-TR-003 | Trains & Rolling Stock | Y | Y |
| CT-TR-004 | Boats & Ships | N | partial |
| CT-TR-005 | Aircraft | N | N |
Sector Summary — Origo Extensions (CT-EX)
| Node | Label | cr_gf_aligned | cr_ndc_aligned |
|---|---|---|---|
| CT-EX-001 | Drought-resistant crops | Y | Y |
| CT-EX-002 | Flood resilience (NbS) | Y | Y |
| CT-EX-003 | Heat adaptation agriculture | Y | Y |
| CT-EX-004 | Early warning systems | Y | Y |
| CT-EX-005 | Community reforestation | Y | Y |
| CT-EX-006 | Mangrove & blue carbon | Y | Y |
| CT-EX-007 | Silvopastoral systems | Y | Y |
| CT-EX-008 | Bioeconomy: NTFP | Y | Y |
| CT-EX-009 | PES platforms | Y | Y |
| CT-EX-010 | Solar home systems | Y | Y |
| CT-EX-011 | Community biodigesters | Y | Y |
| CT-EX-012 | Artisanal cleantech | Y | partial |
| CT-EX-013 | Productive energy microenterprises | Y | Y |
| CT-EX-014 | Remote sensing deforestation | Y | Y |
| CT-EX-015 | AI-powered carbon MRV | N | partial |
| CT-EX-016 | Supply chain traceability | N | N |
| CT-EX-017 | Precision agriculture data | Y | Y |
| CT-EX-018 | Deforestation-free certification | N | N |
| CT-EX-019 | Supply chain due diligence | N | N |
| CT-EX-020 | Smallholder EUDR assistance | Y | partial |
| CT-EX-021 | EUDR documentation services | N | N |
Costa Rica CTH Presence & Data Coverage
Overview
| Field | Value |
|---|---|
| country | Costa Rica |
| cth_presence | CLP cohorts, REIN Hub connections |
| clp_status | Active cohorts |
| rein_hubs | Connected via LATAM network |
| last_updated | 2026-05-26 |
CLP Cohort Coverage
CleantechHUB operates Cleantech Leadership Programme (CLP) cohorts that include Costa Rica-based cleantech entrepreneurs and organizations. Costa Rica participants typically operate in renewable energy, sustainable agriculture, waste management, and eco-tourism sectors. The CLP provides mentorship, technical assistance, and market access support that directly maps to multiple Cleantech Taxonomy nodes, particularly in the EN (Energy), AF (AFOLU), and EX (Extensions) sectors.
REIN Hub Connections
Costa Rica connects to the CTH REIN (Red de Emprendimiento e Innovación) Hub network through cross-border cleantech partnerships. Costa Rica's strong institutional framework for environmental innovation — including CINDE (investment promotion), PROCOMER (trade), and the Costa Rican Chamber of Technology — creates entry points for REIN Hub activities. Priority connection areas include: PES platform technology, agroforestry monitoring tools, and renewable energy microgrids.
Data Availability Assessment
Costa Rica has relatively strong public environmental data infrastructure compared to other LATAM countries:
- National GHG Inventory: Published regularly through SINAMECC (National Climate Change Metrics System)
- Forest Cover: SINAC/FONAFIFO maintain detailed forest cover and PES data
- Energy: ICE (Costa Rican Electricity Institute) publishes detailed generation mix data
- EV Adoption: MINAE tracks electric vehicle registrations and charging infrastructure
- Financial: BCCR and SUGEVAL publish green bond and sustainable finance data
Gaps remain in: disaggregated agricultural emissions by practice type, smallholder-level PES data, and real-time waste management metrics.
Taxonomy Node Coverage
Of the 71 Cleantech Taxonomy nodes, Costa Rica's GF taxonomy covers approximately 44 nodes (62%) and the NDC covers approximately 50 nodes (70%). The strongest coverage is in Energy (13/15 GF, 12/15 NDC), Buildings (5/5 both), and the EX extensions (15/21 GF, 16/21 NDC). The weakest coverage is in Cross-Sectoral (0/5 GF, 0/5 NDC for carbon markets) and niche food-tech categories (alternative proteins).