CABEI shares about the Environmental and Social Risk Management of the projects it finances at the International Congress in San Salvador
The event also addressed international best practices regarding financial inclusion, environmental management, and current challenges in the financial sector.
San Salvador, July 11, 2024.- In order to share its experience in identifying and managing the environmental and social risks of the operations it finances in the region, the Central American Bank for Economic Integration (CABEI) actively participated in the Corporate Governance Congress for Financial Institutions, "Let's Learn about International Best Practices regarding Financial Inclusion, Environmental Management and Current Challenges in the Sector," held on July 11 and 12 in San Salvador.
CABEI Country Manager, Raúl Castaneda, presented the lecture "Environmental and Social Risk Management" based on the SIEMAS system, a comprehensive tool used by the Bank to categorize, analyze, and mitigate the environmental and social risks of the projects it finances in the region.
The implementation of this system allows CABEI to improve the quality of its loan portfolio, promote sustainable business opportunities, and guarantee compliance with national regulations, ensuring the conservation of natural, social, and cultural values. In addition, the system promotes transparency and stakeholder participation, including free, prior, and informed consultation processes, which strengthens trust and collaboration with the communities surrounding the development projects to be implemented.
CABEI also participated in the "Risk Management and Governance" discussion, where it highlighted the importance of compliance management in financial institutions and the future of risk management in governance systems. This panel highlighted how regulation, supervision, and innovation influence the corporate governance of financial institutions and its implications for organizational culture and value creation.
The event, organized by QUALIS ASESORES along with the International Program for the Americas for Financial Governance and Inclusion - GIF, established a crucial space for dialogue and collaboration with experts from all over Latin America to adopt international best practices regarding financial inclusion and sustainability.
