Panama’s stock exchange (BVP), an SSE Partner Exchange, announced the creation of a working group on sustainable finance formed by the main financial sector actors in Panama, including the stock exchange, regulators, the ministry of Finance and Economy, the Ministry of Environment, insurers, investors and financial intermediaries. The objective of the group is to work collaboratively to address environmental, social and governance issues within the various activities of the Panamanian financial system.
The representatives signed a declaration to address these issues as a necessity to support sustainable development. “If these issues are not addressed, they could pose a serious threat to the financial system sustainability, as well as to communities and economies around the world”, stated the aforementioned declaration.
Moreover, it states that “as supervisors, risk managers, financial actors, insurers, financial intermediaries and/or investors, we believe that the financial system has an important role to play in helping achieve an inclusive, resilient and sustainable economy that promotes human well being, social equity and the environment conservation, as well as the objectives of global policy frameworks on sustainable development, such a s the United Nations Sustainable Development Goals, and the Paris Agreement on Climate Change.”
The representatives declared their solid interest in developing a National Sustainable Finance Roadmap that addresses ESG aspects in the context of the risk management, resource intermediation and investment activities of the Panamanian financial system. The roadmap will help achieve the objective of consolidating the financial system and strengthening Panama’s economy by aligning it with local, national, regional and global goals in sustainable development in a manner compatible with business objectives and the best industry practices.
About the SSE
The SSE initiative is a UN Partnership Programme organised by UNCTAD, the UN Global Compact, UNEP FI and the PRI. The SSE’s mission is to provide a global platform for exploring how exchanges, in collaboration with investors, companies (issuers), regulators, policymakers and relevant international organizations, can enhance performance on ESG (environmental, social and corporate governance) issues and encourage sustainable investment, including the financing of the UN Sustainable Development Goals. The SSE seeks to achieve this mission through an integrated programme of conducting evidence-based policy analysis, facilitating a network and forum for multi-stakeholder consensus-building, and providing technical assistance and advisory services.