World Economic Forum and PCA Lead Social Impact Forums in the Region
WASHINGTON D.C., AUGUST 15, 2022 - Last week, the Partnership for Central America (PCA) attended the World Economic Forum’s announcement of a new environmental, social and governance (ESG) metrics framework that aims to improve socioeconomic conditions and environmental resilience across Northern Central America. The Forum invited PCA and regional partners to events cohosted with CentraRS in Guatemala, COHEP in Honduras, and Fundemas in El Salvador. Attendees from the public and private sectors, civil society and international organizations discussed the benefits and opportunities of implementing structured ESG reporting metrics and global corporate trends.
Industries, companies and relevant stakeholders are increasingly adapting their business practices to confront issues around social equality, environmental consciousness, and responsible corporate governance to meet the demands of today’s consumers. Particularly in Central America, promoting an ESG framework offers an opportunity for greater regional and global value chain integration. Building a reporting mechanism and strengthening sustainability credentials will create a significant advantage for businesses and the economy, especially to attract foreign investment to the region.
“As we look to multi-sector approaches to solve the social challenges facing our communities globally, the World Economic Forum's ESG framework provides a structure for businesses to drive greater economic development. Working with public and private sector partners, this can translate into quality jobs, environmental protections, and better lives for families,” said Jonathan Fantini-Porter, Executive Director of the PCA.
The Forum’s ESG initiative is a response to U.S. Vice President Kamala Harris’ Call to Action, which calls on businesses and social enterprises to promote economic opportunities for people in the region as part of a comprehensive strategy to address the root causes of migration from Central America. In coordination with the PCA, Vice President Harris has announced a total of more than $3.2 billion in new commitments to the region since this effort was launched last May.
The PCA intends to support the region's long-term development through mobilizing investment and coordinating programs in digital and financial inclusion, food security and climate-smart agriculture; climate adaptation and clean energy; education and workforce development; and public health access. The Forum’s ESG reporting framework aims to motivate local leaders to take measurable action on their contributions to enhancing socioeconomic conditions and environmental resilience in the region.
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The Partnership for Central America is a non-partisan, non-governmental organization that works with a multi-national coalition of private organizations to advance economic opportunity across underserved populations in El Salvador, Guatemala, and Honduras. The Partnership serves as a coordinating body of Vice President Harris’s Call to Action and aims to facilitate and support practical solutions to advance economic opportunity, address urgent climate, education and health challenges, and promote long-term investments and workforce capability in support of a vision of hope for Central America. If you are interested in learning more, please reach out to membership@centampartnership.org.
