In partnership with the Inter-American Development Bank (IDB) and IDB Invest, the European Union will finance a project for 1 million euros to accelerate sustainable investments in Mexico, which will help develop skill sets related to environmental, social and corporate governance (ESG) practices.
The project will focus on transferring knowledge and generating ESG capabilities in companies, public entities, and financial institutions to strengthen their corporate sustainability and sustainable finance strategies. Likewise, it will focus on supporting future issuers of thematic bonds in the development of ambitious fund use frameworks that are aligned with international principles.
The funds will help provide the private and public sectors in Mexico with a favorable environment to attract capital and investments to accelerate the green economy and sustainable development in the country.
The first component of the project entails ESG training of executives from public entities and companies in sectors with the highest greenhouse gas emissions. This will be achieved through the 4th edition of the Chief Sustainability Officer (CSO) Acceleration Program, a course developed by Mexico’s Institutional Stock Exchange (BIVA, for its acronym in Spanish). Participants will learn in five modules topics ranging from the development of an ESG strategy, to pitching sustainable instruments to institutional investors.
In this new edition of the course developed by BIVA, IDB Invest will provide multi-sector knowledge through specialists with experience in thematic issues.
In a second stage, financing from the European Union will allow IDB Invest to provide support in the development of thematic debt frameworks to a group of companies that have the potential to issue green bonds or sustainability-linked bonds. The use of funds from these potential emissions will be promoted to be innovative and aligned with international standards.
The third component of the project includes the development of tools to promote sustainable finance in collaboration with the Association of Banks of Mexico, within the established Financial Innovation Laboratory framework. IDB experts and other executives will share with them and their affiliates the benefits of these tools and the best way to access them. Gender perspectives will also be integrated by reviewing the relationship between women and green finance.
These efforts contribute to the investment agenda of #GlobalGateway, a European Union strategy that the IDB is actively supporting, to address global green challenges from sustainable finance. It also highlights the essential role of the private sector to achieve sustainability and support with financing the necessary changes in adopting commitments to protect the environment and increase climate action in an inclusive way.
The project between the European Union, IDB and IDB Invest will formally launch on September 21 in Mexico at an event where the different components will be discussed, with special emphasis on the Chief Sustainability Officer course taught by BIVA.
The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public- and private-sector clients throughout the region. Take our virtual tour.
About IDB Invest
IDB Invest, a member of the Inter-American Development Bank Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social and environmental development in the region. With a portfolio of $16.3 billion in assets under management and 394 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries.
About the European Union
The European Union is a unique supranational entity in the world, a political and economic association that currently includes 27 countries, and which has objectives focused both on the territory within its borders and on the rest of the world. To fulfill its objectives abroad, the EU maintains diplomatic relations with other countries that are currently aligned with the #GlobalGateway strategy and the values that represent the entity: human dignity, freedom, democracy, equality, rule of law and human rights. The EU Delegation in Mexico is responsible for promoting political and economic relations between Mexico and the EU, representing the EU before Mexican authorities, promoting and defending the values that both countries share and cooperating with entities public bodies and civil society organizations and provide direct humanitarian aid. For more information about our cooperation initiatives visit our website.
The Institutional Stock Exchange (BIVA) began operations in 2018, providing local and foreign investors with cutting-edge technology for the operation of securities, market information solutions, as well as listing and maintenance for companies. BIVA is part of Central Corretajes S.A.P.I. of C.V. (CENCOR), a company that has developed infrastructure for financial markets in Mexico, the United States and Latin America for more than 25 years. The companies that make up this group are: Enlace, Integral Price Provider (PiP) and Institutional Electronic Market (MEI). www.biva.mx
Communications Sr Specialist
Alvarez Lopez,Diego Fernando
Extl Affairs - Commun Consultant
México and the IDB