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FIAP has taken important steps to advance the responsible investment and sustainable finance agenda, bearing in mind that the incorporation of Environmental, Social and Governance (ESG) factors in the investment process helps institutional investors to allocate capital to companies with good corporate governance working to create sustainable economies. This is in line with the growing global understanding that fiduciary responsibility requires investors to consider ESG factors in their investment processes, their actions as active shareholders and their commitment to public policies.

Thus, on June 12, FIAP joined the Financial Initiative of the United Nations Environment Program (UNEP FI), as a “supporting institution” of the organization. FIAP will therefore be part of UNEP FI’s global network of banks, insurers and investors and will be able to access the exchange of knowledge and good practices in the sustainable finance agenda.

UNEP FI is a partnership between the United Nations Environment Program and the global financial sector, created in the wake of the 1992 Earth Summit, with the mission of promoting sustainable finance. More than 240 financial institutions, including banks, insurers and investors, work with UNEP FI to understand today’s environmental, social and governance challenges, why they are important for finance and how to actively participate in addressing them. UNEP FI’s work also includes a strong focus on policy, facilitating dialog at a national level between finance professionals, supervisors, regulators and policymakers, and internationally by promoting the participation of the financial sector in processes such as global climate negotiations.

Last May 30, 2019, in turn, FIAP joined the Principles for Responsible Investment, promoted by the United Nations Organization (UN PRI), as one of the organization’s “network supporters.” This means that FIAP is now an institution that broadly supports the inclusion of responsible investment in the investment processes of institutional investors.

The PRI is the leading advocate of responsible investment worldwide, working to understand the implications of ESG factors for investment, and supporting its international network of investor signatories in the incorporation of these factors in their investment and ownership decisions. The independent PRI encourages investors to use responsible investment to improve their returns and better manage risks, without acting in their own interests. It also relates to global policy makers, without being associated with any government. It is backed by (but is not part of) the United Nations Organization. To review the updated list of UNPRI “network supporters,” please check: https://www.unpri.org/signatories/network-supporters.

Finally, in consideration of the fact that governments, civil society and the business world recognize the importance of climate change due to its growing impact at the global level, and in addition, the fact that climate change can affect the financial system, including pension funds, in October 2019 FIAP joined as a “Supporting Institution” of the “Task Force on Climate-Related Financial Disclosures (TCFD). The main objectives of this group are to develop recommendations for the disclosure of business information related to climate change, so that they provide information that promotes better investment decision-making; and allow stakeholders to understand the financial system’s exposure to risks related to climate change.

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