Mario Pardo, CEO - BBVA Colombia
Allen Forlemu, Regional Industry Head, Financial Institutions Group for Latin America and the Caribbean - IFC
Sustainability is a core aspect of our mission. Colombia is committed to allocating 100 billion euros, globally, to sustainable infrastructure, and has worked very hard to follow this strategic plan. Colombia has included sustainability as one of its six national priorities. Incentives and progress are measured, year after year. The race against climate change is probably the most important and most transversal concern. It is a challenge for this generation who takes responsibility to ensure we are making substantial progress. This is a global challenge, but certainly also a huge challenge in Latin America.
Latin America as a region has limited contribution to the CO2 emission. Brazil and Mexico are the two largest contributors, but they only represent 2% of the global contribution of the region. Brazil, Colombia and Mexico have been highlighted as the countries that are making the most to promote sustainability finance in the region.
Sustainability is a core issue in Latin America, no matter how much contributions to the CO2 emissions Latin American countries are making
Colombia has taken this issue seriously and invested a lot to keep a sustainable environment and promote sustainable finance within the region.
Latin America is facing other big challenges in addition to the CO2 emissions, but it is still a problem that requires a lot of work for big countries such as Brazil, Mexico and Colombia to promote sustainable development through adapted finance.
Words of Wisdom
Mario Pardo, CEO of BBVA Colombia
“Brazil, Colombia and Mexico have been highlighted as the countries that are making the most to promote sustainability finance in the region. And I have to say, with regards to Colombia, my country, we're very proud to work on this front and be the second most bio-diverse country in the world.”
“The fact that we have to transition to a greener future is undebatable. Everyone agrees with that. Another focus is on how we're doing it the right way. The most important aspect is to develop the Colombian green taxonomy, which is the way we're going to be classifying all economic activities and assets, so we can have the right focus to achieve our objective from a green financing perspective.”