A pathway towards green and inclusive growth requires, among other issues, policy frameworks to promote financial stability and market discipline by mitigating risks and providing regulatory transparency in the financial sector, as well as innovative financial instruments. Sustainability and the transition to a low-carbon and more resource-efficient economy are also relevant to ensure long-term competitiveness in LAC. In this scenario, national financial authorities are seeking to understand and assess new risks and opportunities, so that they can be translated into effective strategies to generate new sources of information for market players, influence capital allocation and facilitate the transition to a more sustainable economy.
About REDES
Network of Regulators for Sustainable Development (REDES)
Mission
The mission of REDES is to promote sustainable regulation and supervision among Latin American and the Caribbean countries and consolidate a regional forum to identify common challenges and facilitate the coordination of policies and initiatives in the face of the global agenda.
Scope of Activities
Lines of action in REDES are deployed through regional and intersectoral dialogues, technical cooperation and capacity-building activities.
Intersectoral Dialogue
Including regional workshops and other initiatives to create awareness and identifying the main challenges regarding ESG and climate risks within the financial sector.
Technical Cooperation
Collaborative initiatives with financial and monetary authorities, aimed at supporting public policy proposals, understanding and managing financial sector exposures to risks associated with climate change and / or ESG issues.
Capacity Building
• Technical studies to support the implementation of regulatory and supervisory initiatives toward more efficient and sounder financial sectors, taking into account ESG and climate issues.
• Training process to level understanding of global standards and recommendations on sustainable finance, particularly on regulation and supervision of the financial sector toward climate and ESG-related risk mitigation and other sustainable finance incentives.