The National Business Support Network for Environmental Protection (ECORED) made an urgent call to prioritize sustainable finance as a fundamental tool to face the challenges of climate change in the Dominican Republic.
During her opening speech, Dania Heredia, president of the board of directors of ECORED, highlighted the importance of aligning financial decisions with the well-being of the planet and communities, “sustainable finance is not just a trend, it is a responsibility,” she stated.
The activity, which included the participation of prominent figures from the public and private sectors, addressed crucial topics such as adaptation to climate change, the transition to a low-carbon economy and the importance of sustainable investments.
Climate change, a real threat for the region
Heredia highlighted that the Latin American and Caribbean region is one of the most vulnerable to the effects of climate change, and that the Dominican Republic does not escape this reality. The increasingly frequent and intense extreme weather phenomena demand urgent and coordinated actions between the different actors in society.
Companies as agents of change
The president of ECORED emphasized the leading role that companies must assume in building a sustainable future. Those organizations that integrate sustainability into their business model are more resilient and are better positioned to face the challenges of the future.
“Sustainable finance also represents an unprecedented opportunity for innovation,” said Heredia, highlighting the potential of renewable energy, energy efficiency and the circular economy to drive economic growth and generate new jobs.
A call to joint action
ECORED called on all sectors of society to work together to promote the transition towards a more sustainable economic model. Collaboration between the public and private sectors and civil society is essential to achieve sustainable development goals and mitigate the effects of climate change.
The exhibitors:
The meeting began with the introductory words titled “Environmental perspective of sustainable finance”, by the Minister of the Environment, Armando Paíno Henríquez, and the conference “Introduction to impact finance: Investments that promote development from the three axes of sustainability”, dictated by the resident representative of the United Nations Development Program (UNDP), Ana María Díaz de la Cebosa.
Then the expert panel “Implementation of green finance at a local and global level” was held, moderated by the president of the Dominican Association of Investment Fund Management Companies (Adosafi), Santiago Sicard.
Its panelists were Alfredo García Besné, representative of the Global Green Growth Institute (GGGI); Olga Nivar, director of public offering of the Securities Market Superintendence; Iván Carvajal, director of strategic planning of the Dominican Republic Stock Exchange; and Dalma Hernández, social banking manager of the Association of Banks of the Dominican Republic.
Afterwards, Juan Bazaldúa, sustainability, risks & ESG manager at PWC de México, gave the conference “Mandatory and voluntary sustainability standards: IFRS Sustainability Financial Standards”; and Martin Schwab, CEO of Ocean Born Impact, spoke on “A growth capital for the planet: Ocean Born Impact”.
The event continued with the presentation of América Móvil as an international business case, by Francisco Marmolejo Alcántara, vice president of finance of that institution, and the high-level business discussion “Sustainable financing instruments: from theory to practice in the sector Dominican private”, moderated by Thony Da Silva, managing partner of Pizzolante.
In the latter, the panelists for “Local experience of large companies” were Nathaly Uribe, banking manager responsible for Popular; Cristina Bello, second vice president of environmental risk at the BHD; Ileana Rojas, regional environmental manager for the Dominican Republic and Colombia at Metaldom; and Miguel Justo, sustainability advisor at Cemex Dominicana.
“Sustainable Profits 2024” concluded with the keynote lecture “Sustainable Finance: Aiming for Climate Action”, offered by Frida Ruíz, representative for the Dominican Republic of the International Finance Corporation (IFC), and closing words by Kathia Mejía, executive director from Ecored.
About Ecored
It is a non-profit organization that promotes the incorporation of a culture of sustainability and social responsibility through capacity building, dialogue and the promotion of public-private alliances in accordance with the United Nations 2030 Agenda and the Paris Agreement. , in accordance with the National Development Strategy.
This organization brings together more than 100 companies from different productive sectors in the Dominican Republic.
It is a member of the Integrarse Regional Network, it is a focal point of the global initiative Arise and the Global Partnership for Business and Biodiversity.
