Paula Peláez is the head of SMEs (small and medium-sized enterprises) and sustainable businesses at IDB Invest. She has been head of Business Call To Action (BCtA), a UNDP platform to encourage innovative business models among private sector companies that incorporate return on investment with an impact on development. She has been a program manager at CARE Canada and manager of advisory services at the consulting firm BSR (Business for Social Responsibility) in San Francisco, California. She has a master's degree in environmental studies and sustainable development from York University and a degree in industrial engineering from Universidad de Los Andes.
The evidence is solid: companies with women in leadership positions achieve clear financial and business benefits. Despite significant challenges, the private sector in Latin America and the Caribbean has the opportunity to do more about it.
Businesses that manage and reduce their greenhouse gas (GHG) emissions have the opportunity to lower their production costs, become more efficient, develop resiliency against the impacts of climate change, and access markets with environmental demands and regulations.
The net-zero transition will struggle to move ahead if it’s not gender-conscious and doesn’t meet the needs of entire communities across Latin America and the Caribbean.
The circular economy is tailor-made to tackle climate change and to shepherd the limited natural resources we depend on. In past years, we have seen a tremendous uptake of this agenda in the region, both in terms of policies and public initiatives as well as private sector action.
SLBs are new type of ESG-friendly bonds with variable coupons tied to sustainability targets. As opposed to green, social or sustainable bonds, issuance proceeds are not tied to specific green or social projects or assets; the focus is on the company’s ability to meet its commitments.
The digitization of financial cooperatives, a fundamental component of the financial sector in the region, is accelerating. There are numerous examples of progress, from Ecuador to Jamaica, that provide grounds for optimism.