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Regional Workshop on Enabling policy framework for enterprise sustainability and SDG reporting in Latin America


04 - 08 October 2021
Online

UNCTAD, the Mexican Council for Financial Reporting Standards (CINIF), the National Banking and Securities Commission of Mexico (CNBV) and the Mexican Institute of Public Accountants (IMCP) co-organized a workshop on Enabling policy frameworks for enterprise sustainability and SDG reporting in Latin America. The workshop took place virtually from 4 to 8 October 2021. It raised awareness about the importance of establishing enabling policy frameworks for business sustainability and SDG reporting in the Latin American region and fostered experience-sharing among policy makers. Participants shared challenges, best practices and lessons learned from the implementation of UNCTAD’s sustainability/SDG reporting tools and the development of national action plans. Moreover, the workshop paved the way to launch a regional partnership to improve enterprise sustainability reporting through mutual support, dialogue and sharing of experience among regional peers. 

Opening the meeting, Mr. Francisco Pérez Cisneros, President of the Board of Directors of the Mexican Council for Financial Reporting Standards (CINIF) said that “We know that sustainability reporting is evolving, particularly in relation to disclosure of non-financial information which allows to better understand the status, risks and expectations of a business.” He further commented that “This Workshop offers a valuable opportunity to showcase progress made in the area of sustainability reporting in our country and at the same time learn about developments in other countries in Latin America.” Mr. Antonio Quesada Palacios, Vice-president of Regulatory Policy of the National Banking and Securities Commission of Mexico (CNBV), stated that “Sustainability is an increasingly relevant topic within the financial system and therefore of greater interest to investors, issuers and the financial sector in general.” He also commented "We believe that having these spaces for the exchange of ideas and reflection will allow us to consolidate collaboration between the different actors of the system so that, together, we can understand the necessary actions to address this common challenge". Ms. Diamantina Perales Flores, President of the Mexican Institute of Public Accountants (IMCP), said that “… the entire accountancy profession is focused on understanding the impact that sustainability issues have and how we must react in an orderly manner and through the issuance of standards to help societies worldwide to achieve these objectives we are all committed to". Finally, Richard Bolwijn, Officer in charge of Enterprise Branch of UNCTAD, highlighted that UNCTAD believes that a collaborative process based on a multi-stakeholder dialogue and cooperation is a key success factor for sustainability and SDG reporting by companies. He further explained that “The topic falls under the responsibility of different government entities and other stakeholders in the public and private sectors. Therefore, an efficient and inclusive communication and collaboration among key stakeholders is critical. In this regard, we believe that a regional partnership will benefit countries by creating a communication channel for continuous experience sharing, support and consultation.” 

The workshop was attended by 212 participants from 18 Latin American countries. Participants included senior government officials in charge of SDG implementation, and heads of national authorities in charge of enterprise accounting and reporting (including financial reporting and sustainability reporting), standard setting bodies, professional bodies, and associations of accountants, senior representatives of statistical offices, environmental and labor authorities, academia and private sector, preparers and users of the reports. 

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Co-organizer(s):
Mexican Council for Financial Reporting Standards (CINIF), National Banking and Securities Commission of Mexico (CNBV) and Mexican Institute of Public Accountants (IMCP)
Sponsor / funding:
Development Account 11th Tranche Project 1819 H titled Enabling policy frameworks for enterprise sustainability and SDG reporting in Africa and Latin America

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