Bolsa de Valores de Lima (nuam)

Name	Bolsa de Valores de Lima (nuam)
Country	Peru
Number of listed companies	266
Domestic market capitalization	78025.83 million US$
SSE Partner Exchange	Yes
Has annual sustainability report	Yes
ESG reporting required as a listing rule	Yes Resolution SMV N. 033-2015-SMV/01 passed 15 November 2015 requires issuers to present a corporate sustainability report and a report on good corporate governance as an annex to its annual report. The format for these reports can be found on the Market Regulator’s website, as well as on the BVL website.
Has written guidance on ESG reporting	Yes The BVL worked with the PIR, which it is a founding associate of, to publish in 2017 a user guide for filling in the corporate sustainability report required by the market regulator (SMV).
Offers ESG related training	Yes The BVL offers courses on ESG themes through its Education Facilities “Bursen BVL” (Stock market education center). The BVL also participates in various conferences in Peru to discuss topics related to ESG. Some events include: May 2022: Panel: Sustainability and market. The Lima Stock Exchange organized a space to discuss the application of environmental, social and good corporate governance indicators in some companies in the country. May 2022: Ring the Bell ESG. The Lima Stock Exchange offered a Ringing the Bell Ceremony in honor of the components of the index. May 2022: Presentación de Indicadores Materiales ASG para el sector minero en el Perú. The Lima Stock Exchange and PIR, the Responsible Investment Program organized a webinar where they presented the ESG Material Indicators for the mining sector. March 2022: Ring the Bell for Gender Equality. The Lima Stock Exchange participates to commemorate International Women’s Day in order to raise awareness among companies in the stock market to reduce gender equity gaps within the environment labor. March 2021: Ring the Bell for Gender Equality. The Lima Stock Exchange participates to commemorate International Women’s Day in order to raise awareness among companies in the stock market to reduce gender equity gaps within the environment labor. August 2021: BVL Entrevista: Cálidda y su estrategia en Gobierno Corporativo. The Lima Stock Exchange premiered an interview to showcase the benefits of corporate governance in companies. April 2021: Entrevista BVL: Petroperú. The BVL discusses the advantages and transformation in ASG factors of Petroperú. September 2020: Peru Sostenible – Participation in the SDG 8 Action Table: Decent Work and Economic Growth under the routes of sustainable economic reactivation and responsible business conduct. August 2020: Presentation of the Good Corporate Governance Index – As every year, the Lima Stock Exchange and S&P Global Indices released the list of companies with the best corporate governance in the market. August 2020: Thematic bonds: Why are they relevant in the context of economic reactivation? – Programa de Inversión Responsible (PIR). Claudia Cooper and Miguel Angel Zapatero participated in this virtual event on sustainable thematic bonds. August 2020: First Virtual Ring the Bell Bosques Amazónicos – The Lima Stock Exchange for the first time for the accession of Bosques Amazónicos to the Alternative Securities Market. March 2020: Ring The Bell For Gender Equality. The Lima Stock Exchange, for the fifth consecutive year and together with 60 stock exchanges around the world, commemorated International Women’s Day in order to raise awareness among companies in the stock market to reduce gender equity gaps within the environment labor. March 2020: Regulation in Sustainable Finance. Event organized with the British Embassy in Lima, A2G and Mexico2. The speakers discussed the necessary legal framework to promote programs and strategies that contribute to the creation of a financial ecosystem that supports the fight against climate change and the construction of an environment that favors sustainable development. February 2020: Fundamentals of the SAM Corporate Sustainability Assessment (CSA) and latest developments February 2020: Workshop “ASG Materiality“. Participants: Manuel Gonzales, Senior Director Latam North Cone S&P Dow Jones Indices; Jvan Gaffuri, Director ESG Benchmarking, S&P Global Switzerland; and Miguel Angel Zapatero Alba, Vice President PIR, Deputy General Manager of Business of the BVL. January 2020: First conference on financial stability and sustainability July 2019: Conference organized with EY titled “XII edition of the recognition of the S&P BVL Good Corporate Governance Index“ June 2019: Presentation of BVL sustainable initiatives to graduated students of Costa CUC University – Colombia in support of the Pontificia Universidad Catolica del Perú (PUCP). June 2019: Conference organizated with Women CEO Perú titled “Board Director platform launch” in which BVL commits to the initiative of 30% of women on boards by 2030. May 2019: Conference organized with IFC titled “How is my business evolving? Presentation of the corporate governance for SMEs“. May 2019: Conference organized by EY, titled “Challenges of corporate governance in investment funds“. April 2019: Conference organized by RoceboSAM training companies on ESG information titled “Corporate Sustainability Assessment“. March 2019: Conference organized with the British Embassy titled “Climate Finance in the Pacific Alliance“. February 2019: Conference organizated with the Peruvian Securities Market Regulator (SMV) and Women Corporate Directors titled “Board of Directors under the SMV guidelines“ November 2018: Conference organized with Women Corporate Directors and KPMG Peru titled “360 board of directors“.
Market covered by sustainability-related index	Yes BVL created the Good Corporate Index (IBGC) in 2008. On 16 Feb 2017 the MILA exchanges (which includes BVL) announced an agreement with S&P Dow Jones Indices, the IFC, and RobecoSAM to develop a new ESG index for the region. Launch of S&P/BVL Peru General ESG Index in 2021. Currently the index has 17 constituents.
Has sustainability bond listing segment	Yes The Lima Stock Exchange uses a “V” for Green Bonds and “S” for social Bonds at the beginning of the Ticker in order to differentiate the nature of the bond. Guide for listing green bonds published by the BVL found here in Spanish. Guide for listing social, sustainable and bonds aligned with the Sustainable Development Goals of the United Nations published by the BVL found here in Spanish. 2021 Sustainable Short-Term Instruments Review 2019 and 2021 Sustainable Bond Reviews 2019, 2020 and 2021 Social Bond Reviews 2018 Green Bond Reviews, here and here
Has SME listing platform	Yes BVL Venture Exchange, since 2000.
Women on boards mandatory minimum rule	No
Additional information	In 2022, Bolsa de Valores de Lima (BVL) and Global Growth Institute (GGGI) established an inter-institutional alliance in order to strengthen the capacities of companies and interest groups to promote sustainability in the local market. For the second time in history a woman is President of the Board Directors of the Lima Stock Exchange. In March 2019, the General Meeting of shareholders named to Claudia Cooper Fort as President of the Board Directors of BVL. The BVL is a founding associate of the Asociación para la Promoción de la Inversión Responsable y Sostenible (PIR), a network supporter of the UN Principles of Responsible Investment (PRI). Through the PIR, the BVL promotes investment policy and practices that incorporate ESG information. In 2022, together with the other PIR partners, BVL signed the letter of commitment to progressively incorporate by 2025 the TCFD recommendations on the evaluation and disclosure of climate risks for decision-making in our investment processes. The BVL has had its carbon footprint calculation certified by A2G Sostenibilidad y Cambio Climático. See the certificate here. The BVL works with EY to produce a yearly report on Good Corporate Governance in Peru, based on a yearly survey The Voice of the Market (La Voz del Mercado). See the 2016 report here. The report educates the market on good corporate governance. Past reports: 2015, 2014. Gender equality initiatives: For the third consecutive year, the BVL participated in the SSE’s “Ring the Bell for Gender Equality” in 2018, in support of SDG 5 – Gender Equality. In 2017, the BVL, the American Embassy and the Woman Corporate Directors developed a leadership workshop called “Breaking the Glass Ceiling – BTGC Peru” aimed at CEO’s, women VPs and senior managers of companies listed on the BVL, with the aim of training them in leadership and awareness in their working environment to implement policies aimed at closing the gender gap and publicly disseminate them to achieve a multiplier effect. In 2017, the BVL Group participated in the OWIT Day 2017 BTGC Peru sharing program and the current situation of the gender gap in the market. In 2017, the BVL Group participated in the 1st meeting of “Women in the Profession Leadership 3.60 WIP” that seeks to promote visibility and leadership of the lawyers, through the creation of a professional network. This event was published in an article in G Management on leadership and how to overcome the barriers. In 2017, the BVL in alliance with SP & Robeco Sam launched the ESG Sustainability Index MILA Regional, where companies that make up the index must disclose whether or not they comply with policies gender equality. In 2018, the BVL launched Allied Group Ranking Par (a free and confidential platform) that allows companies to measure gender equality. A long – term goal is that more companies listed on the BVL can measure the gender gap, awareness and implement improvements in their organizations on this issue.
Organizational model of stock exchange	Listed company for profit.
Regulatory bodies	Superintendencia de Mercado de Valores (SMV) (Peruvian Superintendency of Securities Market).
Regulatory model	Limited Exchange Self-Regulatory Organization (SRO) Model The Superintendencia de Mercado de Valores (SMV) has ultimate authority over securities market regulations. However, the Bolsa de Valores Lima has the authority to regulate the trading and transactions carried out through centralized trading mechanisms under their responsibility, as well as the activity of intermediation agents in such mechanisms. The BVL has supervision power, which entails supervising compliance with the market’s regulations and self-regulation rules by the intermediaries.
About the stock exchange	Location: Lima, Peru About BVL (Spanish). At present, the BVL has 97.32% of the shares of CAVALI S.A. I.C.L.V. [Source]

Criteria for Stock Exchange Database

The SSE maintains a database of sustainability activities for all stock exchanges that are either members of the SSE initiative and/or members of the World Federation of Exchanges. This database is the most comprehensive database of stock exchanges worldwide and contains data on all main stock exchanges. The information in this database is intended to inform investors and other stakeholders on the work stock exchanges are undertaking to advance sustainability in their respective markets.

The information provided in this database is based on publicly available information prepared by the SSE Secretariat with input from stock exchanges in most instances. Sources and explanatory notes on sustainability information have been included in individual Stock Exchange Fact Sheets. The criteria for each category can be found below.

While every effort is made to keep the information in this database up to date, please be aware that certain factors change frequently and therefore may not be exact, such as the number of listed companies or market cap.

Field	Criteria Considered
Country	Country of primary residence or registration
Has signed the SSE Commitment Letter?	To be considered an SSE Partner Exchange, the CEO or Chairperson of the exchange must sign an SSE commitment letter. Contact the SSE for more information if your exchange would like to join.
Has annual sustainability report?	For a yes, stock exchanges must report, either in a stand alone report or integrated into their financial report, on their environmental and social impact and corporate governance.
ESG reporting required as a listing rule?	For a yes, all three factors have been considered (environmental, social and governance) within the listing rules for some or all listed companies. This requirement may come from the regulatory authority or the exchange, depending on the market.
Offers written guidance on ESG reporting?	For a yes, all three factors have been considered (environmental, social and governance). The SSE has developed a model guidance that all exchanges can use to develop their own guidance to issuers. For more details, click here.
Offers ESG related training?	For a yes, training must have taken place in the previous 12 months, and must be interactive. The topic of the training must be on some area of sustainability.
Market covered by sustainability-related index?	Sustainability-related indices may include environmental or social indices, or ESG indices. This could include specific themes, such as low carbon indices, or general sustainability indices. The index must be specific to the market the exchange operates in (a region or world index is not included).
Has sustainability bond listing segment?	For a yes, the exchange has developed the rules and regulations allowing for sustainability bonds to be listed, and provides a separate segment for listing making the bonds easy to find and identify.
Has an SME listing platform?	For a yes, the exchange offers a listing platform specifically for Small-and-Medium sized enterprises.
Additional Information	Additional Information captures exchanges’: sustainability section of websites, sustainability products not captured under indices; information on future sustainability commitments and other information on the exchange
Organizational model of stock exchange	Whether the exchange is listed or not, and when it was demutualized
Regulatory bodies	The regulatory authority that sets listing requirements and capital market regulation for the exchange's market
Regulatory model	The extent to which exchanges have regulatory authority in their market. This may include: Limited exchange SRO Strong exchange SRO Independent member SRO Government (Statutory) Non-SRO
About the stock exchange	The location of the headquarters of the exchange, and any additional details about the stock exchange.

Bolsa de Valores de Lima (nuam)

Results

Bolsa de Valores de Lima (nuam)

Criteria for Stock Exchange Database

Field

Criteria Considered