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UNEP FI Latin American Task ForceSession 1
Início de tour du mondeSustainability & Finance
Christopher WellsChairman
Latin American Task ForceUNEP Financial Initiatives
UNEP FI Latin American Task ForceSession 1
Medio ambiente
¿Qué es un ambientalista?
UNEP FI Latin American Task ForceSession 1
Environmental Risk
Why are we more concerned now? Greater environmental damageGreater scientific knowledge and capacity to measureChanges in values regarding quality of life
UNEP FI Latin American Task ForceSession 1
Início de tour du monde
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Dos tipos de riesgo medioambiental:- Financiero- Image
Ubatuba, Brasil, marzo 2002
UNEP FI Latin American Task ForceSession 1
Qué es una externalidad?¿
UNEP FI Latin American Task ForceSession 1
Photos ExternalidadesClean beach
Some externalities
Historical sites
Clean water Clean air
Stable climate on planet
Clean beach
Some externalities
UNEP FI Latin American Task ForceSession 1
Photos ExternalidadesClean beach
Some externalities
Historical sites
Clean water Clean air
Clean beach
Externalities now have prices
$$$Stable climate on planet
UNEP FI Latin American Task ForceSession 1
These costs will riseCost of waterCost of treatment of waterCost of garbage disposalCost of cleaning up contaminated landCost of reducing air pollutionEnvironmental fines of any kindCost of indemnities to employees Number of indemnities to employees and clientsDamage caused by NGO campaign against your companyCost of emitting CO2 gas
UNEP FI Latin American Task ForceSession 1
Environmental risk
Have the externalities been priced in?Who imposes the price?…Formal regulators⌧Federal government ⌧Provincial governments
...Informal regulators⌧NGOs, community associations, labor unions, etc.⌧Press⌧Importers in Europe, North America, Brazil ⌧Competitors
UNEP FI Latin American Task ForceSession 1
Environmental risk
Who are more powerful….…Formal regulators?
...or...
...Informal regulators?
UNEP FI Latin American Task ForceSession 1
Environmental risk
Informal regulators ...Informal regulators are powerful⌧NGOs, labor unions, etc.⌧Press⌧Importers⌧Competitors
UNEP FI Latin American Task ForceSession 1
Início de tour du mondeRiesgos para institución financera
Riesgo de crédito: default
Colateral / Garantias: assets depreciados o zerados
Riesgo de reputación
Riesgo como acionista: depreciación de títulos de la empresa
UNEP FI Latin American Task ForceSession 1
Equator Principles: response by banks to NGOsLaunched June 2003 by ABN AMRO, Barclays, Citigroup, IFC
Any project with capital cost above US$ 50 millionmust follow guidelines of International Finance Corp. (IFC)27 banks have signed so far
HSBC, BBVA,Itaú, Banco do Brasil... Signatories accounted for +80% of PF in 2004
Equator Principles
UNEP FI Latin American Task ForceSession 1
Some of the IFC Safeguard Policies
Social PoliciesInvoluntary ResettlementIndigenous PeoplesCultural PropertyForced Labor and Harmful Child Labor
Environmental PoliciesNatural Habitats ForestryPest ManagementInternational WaterwaysSafety of Dams+ Specific Industry Guidelines
UNEP FI Latin American Task ForceSession 1
HistoryHistory repeats itself
South America: current situation similar to 1980’s in developed countries.⌧Beginning of serious accidents
• (Argentina: night club ; Paraguay: supermarket)⌧Beginning of high fines (US$ 17 million max, up from US$ 10 th)⌧Beginning of big “clean-ups”⌧More consolidated legal framework⌧Press, companies pay more attention to social & environmental issues.
Accelerating pace of changesGrowing awareness due to First World pressure and NGO’sInternet, TV accelerate changes
UNEP FI Latin American Task ForceSession 1
History
History repeats itself Big environmental firms have physical presence in the region⌧ERM, CSD Geoclock, Waterloo⌧PriceWaterhouseCoopers, Ernst & Young, (ex-Arthur Andersen)⌧ISO 14001 certifiers (Bureau Veritas, ABS, DNV, etc.)⌧Waste disposal / water companies (Suez, Lyonnaise, etc.)
Major NGOs also present in the region⌧Greenpeace, WWF, Friends of the Earth ⌧The Nature Conservancy, Conservation International
UNEP FI Latin American Task ForceSession 1
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Oportunidad:Botellas PET recicladas en fibra textil
UNEP FI Latin American Task ForceSession 1
Início de tour du monde
Oportunidad:Supermercado exclusivamente de productos organicos
Los Angeles, EUA
UNEP FI Latin American Task ForceSession 1
Início de tour du monde
Azúcar organico brasileñoNative certificado
UNEP FI Latin American Task ForceSession 1
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Papel reciclado para imprimir periodicos
UNEP FI Latin American Task ForceSession 1
Início de tour du mondeSustainability & Finance
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