On March the 3rd, the Brazilian Securities, Commodities and Futures Exchange – BM&FBOVESPA formalized its adherence to the Principles for Responsible Investment (PRI). The PRI is a United Nations initiative developed by financial markets to promote responsible investment. The document was signed by the Exchange’s Sustainability director, Sonia Favaretto, during the first international PRI meeting held in Brazil. The event was hosted by Previ, the Bank of Brazil’s employee pension fund.
By signing the PRI agreement, BM&FBOVESPA intends to set an example for other investors to adhere to the principals and also stimulate listed companies to report their socio-environmental initiatives to the market. The adherence to the principles also reinforces the Exchange’s strong commitment to corporate social responsibility practices. It’s worth mentioning, for example, that BM&FBOVESPA was the first exchange in the world to sign the UN’s Global Pact ( an international pact to promote human rights, labor, environment and anti-corruption), in 2004, and its Corporate Sustainability Index - ISE, will this year complete five years.
The PRI event in Brazil began with the “III Brazilian PRI Signatories Workshop” and featured presentations by PRI executive director, James Gifford; president of Munich Re America, Wolfgang Engshuber; and the executive of responsible investment of Universities Superannuation Scheme (USS), David Russel. Also present at the event were the president of Previ, Sérgio Rosa, who discussed PRI’s work in Brazil; and the executive secretary of Brazil’s Ministry of Environment, Izabella Monica Vieira Teixeira, who spoke about the country’s participation in the 2009 UN Climate Change Conference in Copenhagen.