Bolivian IFDs advance towards the integration of ESG criteria in their financial operations.
The growing global trend towards sustainable finance has motivated various entities to rethink their business model based on Environmental, Social, and Governance (ESG) criteria. In Bolivia, this movement is already taking concrete steps. Following a Training and Awareness process on Sustainable Financial Practices developed in December of last year, three Development Financial Institutions (DFIs) —DIACONIA, IDEPRO, and PRO MUJER— have begun to incorporate the vision of sustainability and ESG into their institutional strategic plans.
This initiative, aimed at strengthening the capacities of the financial sector, allowed each entity to deepen its understanding of the benefits of integrating ESG criteria into risk and opportunity management, beyond the traditional focus on Corporate Social Responsibility. As a result, the three DFIs have taken initial steps towards adapting their policies, projecting the implementation of the Environmental and Social Risk Analysis System (SARAS).
This progress represents a milestone on the path towards a more inclusive, resilient economy aligned with the Sustainable Development Goals (SDGs) and the Nationally Determined Contributions (NDCs), reaffirming Bolivia’s potential in environmental conservation and positive social impact from the financial sector.
The Inclusive Markets Project is funded by the Swedish Embassy in Bolivia and the European Union through the EU-Sweden Environmental Platform.