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Blog | A call for an integrated framework for the bioeconomy in Latin America and The Caribbean region

Bioeconomy is any economic activity based on the use of natural renewable biological resources, from both land and ocean, to obtain food, materials, and energy in a sustainable way without compromising their availability for future generations. Specifically, bioeconomy comprises those economic activities related to the invention, development, production, and use of biological products and processes. The business case for action on bioeconomy is straightforward.Over 30% of global GDP is estimated to be dependent on nature and its services. In fact, the latest global analyses, conducted in 2018, have shown that developing sustainable food and land-use business models could be worth up to an additional US$ 2.3 trillion per year and provide over 70 million new jobs by 2030. Further, there is an array of other bioeconomy sectors besides agriculture (i.e. fisheries, aquaculture, forestry, renewable energy, among others) that can also benefit from sustainable and modern business models for the use of renewable natural resources. Additionally, global assessments suggest that ecosystem services are valued at US$ 125-140 trillion per year. However, despite their high economic value, these ecosystem services are not considered in the national accounts of countries, undervaluing the economic potential and wealth of nations. In fact, both the degradation of biodiversity and the deterioration of their underlying ecosystem services are leading to significant economic losses for countries, businesses, and financial organizations that depend on the proper functioning of natural capital, but due to its lack of proper accounting, often goes unnoticed. by Santiago J. Bucaram-Villacís - Chiara Trabacchi - Maria E. Netto de A. C. Schneider - Gregory Watson SEE FULL BLOG HERE

Rio de Janeiro becomes first South American financial centre to join FC4S

Representing Brazil’s public and private sector financial services sector actors, today Brazil’s Laboratory of Financial Innovation (LAB) joined the International Network of Financial Centres for Sustainability (FC4S) to become the network’s first South American member. As the 31st member of FC4S, LAB joins financial centres who collectively manage 80% of global equity markets, representing $61.3 trillion in equity market capitalization. Working with FC4S LAB proposes to go beyond a space of knowledge production and will promote the structuring and piloting of new financial products, using research, analysis and the technical prowess of its participants. To this end, LAB and FC4S will work together to analyze innovative instruments and good local and international practices that can be replicated by the Brazilian financial (public and private) institutions, as well structure solutions that increase the efficiency of the resources of impact investors.

Global standardisation of ESG information to issuers, is key

Investors in Mexico joined to request that environmental, social and corporate governance (ESG) risks be considered among the financial risks, in order to achieve a more efficient investment process to create sustainable portfolios. Over 70 institutional investor signatories consider that climate change is the greatest risk to the global community in terms of impact. The situation is urgent and demands forceful action from all actors involved. The financial sector has a key role in an orderly transition to a low-carbon economy by incorporating environmental criteria into its investment strategies. The group of signatories, including: rating agencies, insurance companies, investment funds, asset management, unions (Amafore, AMIB, AMIS and AMAI), the two stock exchanges (BMV and BIVA) and other institutions, specify the need to produce a robust analysis of the climate implications for investment portfolios with quality standardised information according to the industry by the issuers of debt and equity. Main points: -Establish a clear strategy to reduce GHG emissions -Incorporate the risks and opportunities due to climate change into all capital allocation decisions -Building a corporate governance framework -Disclose progress on environmental and climate change strategy to investors, considering risks, opportunities, and performance indicators. -Report ESG information according to the internationally recognised standards issued by the Sustainability Accounting Standards Board (SASB), using as a reference framework the standards issued by the Task Force on Climate-related Financial Disclosures (TCFD) Highlights 40.5 billion in new assets was the amount raised by the sustainable funds