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The figure of the socially responsible investor “is here to stay” since it is part of “a social demand and a new paradigm,” said the vice president of the National Securities Commission (CNV), Mónica Erpen, during a panel on Sustainable Finance organized by Refinitiv, which featured a presentation by its director of Emerging Markets for Investment Advisory, Silvia Bruggia.
In Argentina the market is still incipient but the CNV is promoting an agenda to develop tools and disseminate them with the purpose of raising awareness and adding new players.
Erpen stressed that “these issues are closely related to financial education” since they imply “a profound cultural transformation.”
The inclusion of more companies and more investors with an eye toward social and environmental impact is a demand that the new generations have already installed. It is an agenda of commitment and responsibility that involves all market participants. Much more considering the need to rebuild the social and economic fabric after the pandemic.
“Incorporating a new perspective into the ´risk-profitability analysis requires a cultural transformation that demands persistence: education, inclusion, inclusion with a gender perspective, sustainable finance. Everything is part of the same agenda. A few weeks ago the CNV approved the “Social Label” (in the hands of Untref) to identify emissions that spill positive social effects. We should start to ask investors in tests: what is their propensity to invest in social and / or environmental bonds? ”
The CNV seeks to “encourage the figure of the socially responsible investor” through a guide of recommendations and guidelines that allow “to create awareness” of its advantages.
For her part, Silvina Bruggia, from the Refinitiv team, said that 1 in every 3 dollars in the world capital market is invested under ESG criteria and added that the companies that apply them the most are the most resilient, have the least losses and best sustainability rating.
“In 2020 there is a transfer of wealth in the world of more than 24 trillions of dollars”, these are funds that remain “in the control of the new generations and clearly go to savings and investment under these sustainable criteria,” Bruggia said.
“It is not a fashion or a bubble but something that came to settle, and also because there is demand,” he stressed.
During the presentation, a survey was conducted among the more than one hundred participants with the question that Erpen proposed. The result allows one to be optimistic.
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