El 18 de Julio un evento organizado por Génesis, la BCBA, el Grupo Bolsa Mexicana y la Iniciativa de Bolsas Sostenibles contó con la presencia de la Embajadora de México en la Argentina, Mabel Gomez Oliver entre otras personalidades
Buenos Aires, July 18 2018. The Mexican Stock Exchange (BMV), the Buenos Aires Stock Exchange (BCBA), the United Nations Sustainable Stock Exchanges Initiative (SSE), MexiCO2 and GENESIS launched the Spanish version of the SSE Action Plan on Green Finance on 18 July, coinciding with the G20 meetings in Buenos Aires. The two exchanges worked with the ESS in order to further advance in green financing throughout the region.
“The Group of the Mexican Stock Exchange, given its regional leadership in the promotion of green and sustainable finance, reiterates its commitment and dedication to promote the greening of the Mexican financial system with the support granted to the SSE,” said José-Oriol Bosch Par, CEO of the BMV, who translated the document into Spanish. “Undoubtedly, this document prepared by the SSE and the Expert Advisory Group is a valuable action plan to promote the development and growth of green finance among the stock exchanges of Latin America.”
The launch of the Action Plan was made within the framework of the event “Advancing in Sustainable Finance” held at the BCBA and organized by the institutions. More than 170 participants gathered to hear experts speak about green capital and green bonds, as well as the role of stock exchanges, regulatory authorities, small businesses, investors, banks and other key stakeholders in the capital market.
The meeting was attended by several experts in the field, as well as authorities and officials of public and private entities linked to this issue. In charge of the words of welcome, the President of the Buenos Aires Stock Exchange, Adelmo Gabbi, recalled the work done by BCBA in the Clean Development Mechanism (CDM): “A few years ago, the Stock Exchange worked on carbon credits under the CDM, which aimed to reduce carbon emissions. Today it is about improving the conditions of sustainability. I believe that this is the right path, and on this road I recommend everyone to go. ”
The Ambassador of Mexico in Argentina, Mabel Gómez Oliver, emphasized the recent commitment of Grupo BMV and the BCBA initialed at the United Nations Conference on Climate Change (COP23) held in Bonn, Germany, and added: “As member countries of the G20 , Mexico and Argentina have the responsibility to participate with a Latin American perspective – together with Brazil, of course – in the design and implementation of measures that guarantee sustainable and inclusive development. We must also contribute to the achievement of the 2030 Agenda for Sustainable Development and the Paris Agreement on climate change. Achieving these objectives implies modifying the traditional way and vision with which we have financed the actions to achieve optimal levels of development. In this regard, sustainable financing represents a historic opportunity for financial markets, in the search for long-term prosperity. ”
For his part, the Senior Economist of the United Nations Development Program (UNDP) in Argentina, Rubén Mercado, shared with the audience a question: Why the great possibilities of financing that exist in the world do not flow towards the satisfaction of the needs of the 2030 Agenda?, and explained: “From the UNDP, our diagnosis is that this has to do with the design of the incentives, which are not properly aligned to catalyze those funds. The global financing needs are more than 2,400 billion dollars, that is, 13% of the global GDP of developing countries and 2% of world GDP. Likewise, almost 50% of the financing needs of the 2030 Agenda are for infrastructure projects “. Mercado said that “there is no shortage of global funds to carry out the 2030 Agenda”, and argued: “International institutional investors have a portfolio that is estimated at 115 billion dollars, however, only 3% of said global portfolio is invested in infrastructure projects. It is necessary then to build some scheme of incentives that will lead these funds to re-direct even a minimum part of those huge financial assets “.
Alejandra Cámara, Director of Genesis, was the one to close the event with the Launch of the SSE Action Plan in Green Finance
More info here: