Inter-American Investment Corporation Conducts Workshop to Promote Environmental Management Awareness

10/24/2000

BUENOS AIRES, ARGENTINA - Representatives from financial institutions from Latin America and the Caribbean gathered in Buenos Aires, Argentina today to participate in the Improving Environmental Management in the Financial Sector workshop being hosted by the Inter-American Investment Corporation (IIC)1, a member of the Inter-American Development Bank Group. The workshop will continue through October 27, 2000, and will center on how financial institutions can integrate environmental management practices in their operations and map out strategies for turning those practices into competitive advantages.

The workshop opened with a breakfast and a morning session on the subject "Ecoefficiency and Profitability" co-hosted by the IIC and Banco de Galicia y Buenos Aires. In his opening remarks Mr. Jacques Rogozinski, General Manager of the Corporation, touched upon topics such as the importance of conserving resources to reduce input costs and help prevent depletion of irreplaceable assets and the effects of resource depletion and pollution on labor productivity. He stressed the importance of complying with international environmental protection and workplace health and safety and labor standards, as well as the commercial advantages of aspiring to such standards.

Dr. Oscar Massei, Argentina's Secretary of Sustainable Development and Environmental Policy, and Mr. Hector Arzeno, Manager, International Department of Banco de Galicia y Buenos Aires, welcomed the participants and endorsed the objectives of the meeting. They were followed by the guest speakers: Mr. Richard Wells of the Lexington Group, who spoke on achieving superior environmental performance recognition through certification; and Mr. John Paul Moscarella of Ecoenergy International Corporation, who discussed environmental and resource protection, energy efficiency, and cleaner production. Among the guests present was Mr. Federico Braun, Director of the Banco de Galicia y Buenos Aires.

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1 The Inter-American Investment Corporation is a multilateral financial institution that is part of the Inter-American Development Bank Group. It provides financing (in the form of equity investments, loans, guarantees, and other instruments) and advisory services to private enterprises in Latin America and the Caribbean. The IIC's mission is to promote the economic development of its regional borrowing member countries by stimulating the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size. The IIC has thirty-six member countries: twenty-five in Latin America and the Caribbean and eight in Europe, plus the United States, Japan, and Israel. For further information on IIC–s activities please contact Mr. Jorge Roldán at 202-623-3948.

Contact: Philip James

Telephone: (202) 623-3925

Email: philipja@iadb.org