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Exchange in Focus: Costa Rica Stock Exchange leads the drive for sustainability in the region

(October 2019) Participants of the securities markets of Costa Rica, Panama and Ecuador, gathered in the Panamanian capital to strengthen their knowledge about sustainability financing. Moving towards a resilient, low-carbon, inclusive and socially responsible economy is a reality. The National Stock Exchange of Costa Rica (BNV) has moved in this direction to offer products that promote green finance and sustainable development.

The intensive workshop, taught by The Climate Bonds Initiative and organized by the Costa Rica and Panama Stock Exchanges, covered topics such as: the process of issuing a green bond, verification of green projects, alignment with Sustainable Development Goals, where discussed.  The delegation of Costa Rican participants was the largest, with securities regulator, potential issuers, stock exchange societies, mutual fund companies, and risk rating agencies.

On the part of Costa Rica various entities participated as SC Riesgo, Compañía Nacional de Fuerza y Luz, BCR SAFI, BCR Valores Puesto de Bolsa, Mercado de Valores and Superintendencia General de Valores (Sugeval).

The Costa Rica Stock Exchange has also supported with its knowledge other stock exchanges such as the Dominican Republic, Paraguay and Panama. In April 2018, it joined the SSE (Sustainable Stock Exchanges Initiative), being the first Central American Stock Exchange to do so, and since then, it has been joining efforts to train issuers and investors on sustainability issues and promoting good practices in this matter.

María Brenes Quesada, Director of Development and Corporate Relations of the National Stock Exchange

María Brenes Quesada, Director of Development and Corporate Relations of the National Stock Exchange, and who leads the issue from the Stock Exchange, said that “as a market we are marking a milestone in the Central American region. Faced with environmental, social and technological challenges, our capital markets must evolve and adjust to new needs. Our interest is to offer innovative solutions to the capital market, and among them sustainable financing. It is very pleasant for the Costa Rica Stock Exchange being a reference for other markets, support them, and see how more and more markets promote sustainability through products, green, social, sustainable, knowledge generation, sustainability reports, among others”.

About the Climate Bonds Initiative (CBI): is an international non-profit organization that works by mobilizing debt markets to a rapid transition to a low-carbon economy, that is resilient to climate change. CBI carries to market analysis, policy research and market development; advises governments and regulators; and administers a global green bond certification scheme. For more information, visit:

For more information on the sustainability efforts of the National Stock Exchange (BNV), please contact the following e-mail address: [email protected].