IIC held its first Sustainability Week highlighting three unique workshops in collaboration with the IDB and BAC San José


Financial institutions to develop their own environmental management systems and become more competitive

San Jose, Costa Rica – From October 18 to 22, 2010, the Inter-American Investment Corporation (IIC) held its first Sustainability Week, consisting of three workshops. The first workshop, held from October 18 to 20, 2010, was the IIC’s fourteenth Environmental Management Course for the Financial Sector, which was developed in collaboration with the Environmental and Social Safeguard Unit (ESG) of the Inter-American Development Bank (IDB). A total of thirty-seven participants from nineteen financial institutions from twelve countries (Brazil, Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Mexico, Panama, Paraguay, Peru, Uruguay, and the United States) attended the seminar. The purpose of the seminar was to show financial institutions that are clients of the IIC and the IDB how to develop their own environmental risk management systems and thus become more competitive and profitable. Guest speakers from Banco Promerica (Costa Rica) and Banco General (Panama) were invited to give presentations on their environmental risk management systems and the opportunities related to sustainability.

The second workshop, Climate Change: Risks and Opportunities for the Financial Sector, was organized by the IIC in collaboration with the IDB’s Sustainable Energy Climate Change Unit (INE/ECC) and took place on October 21, 2010. The objective of the workshop was to raise awareness about climate change and to assist financial institutions with how to identify both related risk and opportunities. The workshop covered the implications of climate change for both financial institutions and the clients that make up their portfolios. A total of thirty-three participants from twenty institutions from twelve countries attended the seminar. Guest speakers from Bancolombia (Colombia) and Grupo Financiero de Occidente (Guatemala) were invited to share their experiences regarding what their financial institutions are doing to promote projects to mitigate climate change and assist their clients with reducing their greenhouse gas emissions.

The third workshop, Energy Efficiency and Climate Change: Risks and Opportunities for Companies was organized by the IIC/IDB with assistance from the Korea-IIC SME Development Trust Fund in collaboration with BAC San José and took place on October 22nd, 2010. The purpose of the seminar was to give companies the tools to be able to identify and implement energy efficiency measures, reducing their energy costs and carbon footprint. A total of fifty-five participants from thirty-six companies from nine countries attended the seminar.

To learn more about the Sustainability Week, please visit www.iicsustainabilityweek.org.

The IIC is a multilateral financial institution that is a member of the (IDB) Group. The IIC’s mission is to promote the economic development of its regional member countries by encouraging the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size. It does so by providing financing (in the form of equity investments, loans, guarantees, and other instruments) and advisory services to private enterprises in Latin America and the Caribbean. In 2009, the IIC reached US$1.4 billion in assets and approved 40 operations channeling US$299.8 million to SMEs in the region. For more information on the IIC’s activities, please visit www.iic.int.

Contact: Angela Miller

Telephone: (202) 623-3936

Email: angelam@iadb.org