The CNV ( Comisión Nacional de Valores de Argentina- capital markets regulatory entity) introduces the conceptual framework to facilitate the local development of negotiable securities for environmental and social purposes.
The CNV introduces the conceptual framework to facilitate the local development of negotiable securities for environmental and social purposes.
These instruments have achieved broad development in other markets due to the interest of institutional investors who recognize the favorable impact of this type of instruments in their investment portfolios, and have committed to the Principles of Responsible Investment (PRI), among others.
As an example, during the year 2018, US $ 167,000 million were issued globally in these instruments, when 10 years ago they practically did not exist.
The CNV guidelines define the taxonomy and the processes to implement these financial instruments, and consequently the creation of mutual funds and financial trusts dedicated to the investment in these assets.
Investments with environmental impact can for example be in renewable energy, energy efficiency, and clean transportation. On the social side, it includes access to drinking water, sewage, housing, job creation, and gender equality, among others.
The guides were prepared with assistance from the UNEP (United Nations) and the Climate Bond Initiative (CBI), and were put on public consultation.
https://www.cnv.gov.ar/descargas/marcoregulatorio/blob/6f8bb7db-37cf-4722-ac99-9809df4d37f7