ESG: Myth or Reality?

On 19 March, during the Biennial IBA Latin American Regional Forum Conference: The Road to 2030 in Latin America, held in the city of Lima, a panel discussion was held entitled ‘ESG: Myth or Reality?’. The panel brought together prominent leaders from various industries to explore the growing importance of environmental, social and governance criteria in the business world.

Panelists:

1) María Isabel Echeverri: Vice President of Corporate Affairs at Cementos Argos.
2) Fabiola Sifuentes: Vice President of Health, Safety and Environment at Antamina.
3) Fernanda Mierez: Partner at Beccar Varela, co-leader of ESG and Corporate Law.
4) Oliver Wack: Partner at Control Risks.

Presenters:

1) Catalina Santos: Partner in the labour law area of Brigard Urrutia.
2) Miyanou Dufour: Partner in the mining and environmental area of Hernández & Cía.

In a world where shareholder expectations and regulations are increasingly rigorous, organisations face the challenge of effectively integrating ESG principles into their operational strategies. During the panel, experts such as María Isabel Echeverri, Fabiola Sifuentes, Fernanda Mierez and Oliver Wack shared their perspectives on how they have implemented these criteria in their companies, the obstacles they have encountered and the opportunities that emerge in a constantly changing environment.

Moderated by Catalina Santos and Miyanou Dufour, the crucial role of legal advisors in the implementation of ESG strategies was discussed and regulatory challenges and market expectations were analysed. The conversation not only focused on the viability of ESG principles, but also sought to answer the panel’s central question: are these criteria a tangible reality that drives change, or simply a myth?

This panel made a significant contribution to the debate on the future of sustainable development in Latin America, offering valuable reflections and perspectives on the road to 2030.

Throughout the discussion, the panellists explored how their organisations have integrated these principles into their operations and the challenges they face when operating in multiple jurisdictions with diverse regulations and expectations.

From a corporate perspective, the panellists shared their views on ESG and how they have adopted strategies in response to demands from shareholders in other jurisdictions. From a legal perspective, the role of the legal advisor in the implementation of ESG strategies was examined, highlighting how lawyers can add value in this area.

In the second round of discussion, the debate focused on regulatory challenges and market expectations, exploring how companies can comply with ESG standards without compromising their competitiveness and operational efficiency. The growth of sustainable finance in capital markets and the lessons that can be applied in other jurisdictions were also examined.

Finally, the panellists reflected on the risks associated with adopting the ESG approach and addressed the key question of the event: ESG, myth or reality?

ibanet.org

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