Objectives of the Partnership
The Partnership promotes mutual support among Latin American countries in their efforts to achieve the development of national strategies and policies to: a) establish and/or strengthen the national infrastructure to prepare high-quality sustainability reports by companies b) increase the number of high-quality sustainability reports by companies c) measure the contribution of the private sector to the implementation of the SDGs d) promote sustainable enterprise development.
Mechanism of operation
- The Partnership is purposely designed as an informal arrangement among ‘friends of sustainability reporting’.
- Every country is represented by two to three national entities from the following list: the regulator of companies (i.e., listed companies, public interested entities (including financial sector), SMEs), the local financial reporting standard setter, the entity responsible for sustainability reports, the government entity in charge of the implementation of the SDGs, the professional accountancy association.
- One country acts as Chair of the Partnership and the Chair rotates every year. This way different countries oversee the coordination of the Partnership.
- Three virtual meetings per year are convened by the Chair.
- The election of the Chair is based on agreement between the membership.
- An electronic Platform was created for the Partnership. In addition to virtual meetings, the platform supports continuous communication between members. It allows members to ask and answer questions, share achievements, upload information that may be useful to other countries, etc.
- A database of members was developed to establish communication.
Role of UNCTAD-ISAR in the Partnership
UNCTAD-ISAR acted as the original convener of the Partnership, providing initial support for its creation. After the establishment of the Partnership, UNCTAD-ISAR continues providing support as follows: a) opening opportunities in its forums, to listen to the challenges and needs of the region in terms of sustainability reports, as well as to monitor achievements and progress. b) opening opportunities to participate in forums with other regions of the world, that allow to share experiences in terms of sustainability reports. c) inviting the members of the Partnerships to capacity building workshops on sustainability reports, as well as making available its materials, guidance, and tools. d) assisting in the identification of technical assistance needs.
Joining the partnership
National entities interested in joining the Regional Partnership are requested to communicate this in writing to UNCTAD. The letter should contain the following statement: “We [entity’s name and country] wish to join the Regional Partnership for the promotion of sustainability and SDG reporting in Latin America. We subscribe to the objective of the Partnership to improve enterprise sustainability reporting through mutual support, dialogue and sharing of experience among regional peers.” The letter must be signed by a senior representative, be addressed to UNCTAD-ISAR and sent by email to: email@example.com
Mexico, represented by the CINIF with the support of the CNBV and the IMCP.