UNEP FI has over 80 UNEP FI members and 40 supporting institutions in Latin America and the Caribbean (LAC), across 16 countries. 55 banks are signatories to the Principles for Responsible Banking and 16 of them have also joined the Net Zero Banking Alliance. Additionally, 17 insurers in the region have signed the Principles for Sustainable Insurance, with a larger group committing to the Bogota Declaration for Sustainable Insurance launched in January 2024.

The most biodiverse region globally, LAC faces significant nature loss, climate change impacts and inequality issues. Our efforts focus on leveraging the green transition to foster a more equitable society through peer exchange, knowledge-sharing, and efforts on enhacing understanding of sustainability topics, including climate adaptation and mitigation, as well as financial inclusion. We also support policymakers in developing sustainable finance taxonomies aligned with national objectives to establish clear definitions and a common language for sustainable initiatives.

Regional Highlights
  • The Bogotá Declaration on Sustainable Insurance (BDSI): Signed by insurance industry leaders in the region in January 2024, the commitment focuses on the achievement of the Sustainable Development Goals in this UN Decade of Action. Find out more here.
  • The UNEP FI Regional Roundtable for Latin America and the Caribbean took place on 30-31 January 2024, bringing together over 500 sustainable finance professionals to Bogota, Colombia. You can now access the session recordings here.

 

Key focus

The workplan for 2024 for the region highlights the following priorities:

We will continue supporting existing members in the implementation of their commitments (PRB, PSI, NZBA and other UNEP FI initiatives) and develop membership in new jurisdictions. Using experience gained over the years, we will encourage members to engage with peers on sustainable finance development and integration.

We will also work on strengthening the participation of members in UNEP FI working groups and communities of practice, as well as on offering tailored regional approaches on current frameworks and tools.

In 2024, the following initiatives will be launched:

  • a new community of practice in Spanish/Portuguese on nature and biodiversity. Sessions in Spanish of the global working group discussions will also be facilitated.
  • a new working group in Spanish/Portuguese on just transition.
  • sessions in Spanish of the global gender working group will be offered.

The Sustainable Finance Taxonomy Working Group, led by UNEP FI and key stakeholders, launched the Common Framework for Sustainable Finance taxonomies for LAC in 2023 to support harmonization and interoperability. The second phase of this work is under way and will be launched at the COP16 in October in Cali, Colombia.

In 2024 UNEP FI will also support the development of sustainable finance taxonomies in Costa Rica, Panamá, and Brazil in close collaboration with governments, regulators, financial institutions, and other key stakeholders. UNEP FI will also continue engaging with relevant regional stakeholders on policy requirements and recommendations, and support members in understanding how these developments apply to their commitments.

At UNEP FI we recognise the need of fostering collaboration and aligning efforts on tackling regional challenges and leveraging opportunities more efficiently. Therefore, we are committed to leveraging the networks of UNEP FI supporting institutions, endorsers and other key partners to amplify impact and outreach to deliver on UNEP FI objectives.

Following the success of the Regional Roundtable which take place in January, 2024 in Colombia, UNEP FI is co-organizing with its regional partners the Finance and Nature Day for LAC to take place on October 26 in Cali, Colombia, during the COP16. Learn more here.

 

Are you already a UNEP FI member? Find the latest regional news, key resources and more in the Members’ Area.

 

Regional Implementation Programme & Training

UNEP FI has a range of training and region-specific activities in online and in workshop formats. For further information on each of these offerings, please visit the Learning and Development for Finance Professionals section.

UNEP FI also offers a wide range of implementation support activities to members, consisting of regionally tailored workshops designed to support finance professionals implement frameworks such as the Principles for Responsible Banking (PRB) and Net Zero Banking Alliance (NZBA). These activities cover climate adaptation, nature, financial health and inclusion and most recently, climate mitigation in collaboration with GFANZ. Access the full calendar and check for updates in the Members‘ Area. Please contact Gabor Gyura for any questions on the regional implementation programme and Fernando Salazar de Lara for climate mitigation activities.

Non-members can also view the different activities they have access to in their regions here.