The inaugural meeting of the Regional Partnership for the promotion of sustainability and SDG reporting in Latin America took place virtually on 12 November 2021. The regional partnership is one of the main outcomes of the Development Account 11th Tranche Project entitled Enabling policy frameworks for enterprise sustainability and SDG reporting in Africa and Latin America. It will ensure continuous support to countries beyond the project’s duration.
The Partnership will provide a communication channel among peers for experience sharing, support and consultation to enable countries to learn from each other. Mexico is the first Chair of the Partnership represented by the Mexican Council for Financial Reporting Standards (CINIF) with the support of the National Banking and Securities Commission of Mexico (CNBV), and the Mexican Institute of Public Accountants (IMCP).
During his opening remarks Mr Richard Bolwijn, Officer in charge of the Enterprise Branch of UNCTAD, stated that UNCTAD-ISAR will support the partnership by opening opportunities within the ISAR sessions and inter sessional events and activities to listen to the challenges and needs of the region and monitor achievements and progress. It will also create opportunities to exchange experience and lessons learned with other regions of the world. Additionally, it will invite members to participate in its capacity building workshops and will make available its materials, guidance, and tools. Moreover, UNCTAD-ISAR will be able to identify technical assistance needs among Partnership members.
Ms. Elsa Beatriz Garcia Bojorges, Chair of ISAR 38 and President of the Financial Reporting Standards Board in Mexico (CINIF), said that the objective of the Partnership is to promote mutual support among Latin American countries in their efforts to develop national strategies and policies to establish or strengthen the national infrastructure to prepare high-quality sustainability reports by companies; measure the contribution of the private sector to the implementation of the SDGs; and promote sustainable enterprise development.
The meeting was attended by entities from 15 countries in the region. Participants included representatives from regulators of companies (i.e., listed companies, financial sector, SMEs), financial reporting standard setters, entities responsible for sustainability reports, government entities in charge of the implementation of the SDGs, and professional accountancy associations. The Partnership will hold 3 annual meetings using a virtual format.
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