Sustainable financial system – El Financiero

Perhaps for many it is not one of the main issues that banks should focus on, but the truth is that in a changing world that is increasingly working to care for the environment, it is better for everyone to keep an eye on it.

In Acapulco, several bankers agreed on the importance that companies that today receive financing without being under scrutiny and in the public eye regarding their practices under the ESG criteria they apply, must now put their “beards in the water.”

As you said Jorge Arce, president of the Board of Directors and general director of the HSBC Financial Group, we must provide banking clients, mainly companies, with tools to facilitate their transition where they already have a self-diagnosis program for their ESG performance and can make better decisions informed; Otherwise, they should prepare to not be eligible for credit.

It is such a relevant issue in the financial world that the undersecretary Gabriel Yoriowho arrived directly to Acapulco from Washington, signed an agreement with the French Development Agency so that they can work with Mexican banks to develop a hub sustainable financial system, which can help the mobilization of financial resources towards a more inclusive and responsible country.

The actions are diverse, there is no bank called the G7 that is not working on the issue, from BBVA, which has Eduardo Osuna and that has also focused on sustainable issues linked to the financing they provide, until having – for many years – a headquarters that is totally environmentally friendly; or a Mifel, who carries Daniel Beckerin whose market niche has worked to reduce carbon emissions, as well as finance companies that are aligned on that path, all without exception have worked on the topic.

And the financial system, especially banking, plays a key role in financing this transition and meeting the country’s goals in terms of climate and sustainable development; What’s more, in short, some managers have recognized that Pemex, for example, has a lot to work on in this, and although it is one of the most profitable businesses for financial institutions at times, they do not rule out closing the financing tap for the short term. work done to reduce the pollution it generates. Could it be?

Mexico, the Mercado Pago opportunity

It has been a Banking Convention where everyone fintech It has been turned around. In the hallways some of these technology companies talk about their plans, as is the case of Mercado Pago, which has Pedro Rivas and as he said, there are “a lot” of opportunities in the country.

Digital technological tools are the order of the day, and today under the regulatory figure of the Fintech Law, they are more than comfortable, since they have managed to maintain their objective of providing the services and products that their clients need.

Of course, building more and better products and services is an everyday task, with the current legal structure they have achieved it, and that has not been a limitation for the growth that Mercado Pago has had and considers that they will continue on that path of expansion.

The most important thing in all this time is that both fintech As banks they have managed to increase competition and that benefits all users.

For now, we must wait for more news about this technology company, which everything indicates is going all out to compete head-on with banks and fintech.

They still don’t agree

The reform of the Securities Market Law is being analyzed with all sectors and with intermediary associations. Everyone without exception is analyzing the proposals that are being made and seeking to implement in time the provisions established by the Securities Market Law. Now the problem is getting everyone to agree so that good provisions can be made, recognized the same National Banking and Securities Commission (CNBV), which carries Jesus of the Fountain.

When will they be? It depends on the consensus among everyone, perhaps before the end of the six-year term, or perhaps longer. This is because an absence that drew attention and started speculation at the Banking Convention is that the vice president of Regulations, Aurora Cervantes, did not attend the financial meeting in Acapulco. Hopefully it was just a matter of agenda and not a departure from the CNBV, in the middle of the six-year transition.

Agreement and snubs

Some bankers had a brief meeting with the governor of Guerrero, Evelyn Salgadowith whom they signed an agreement to continue supporting the port in the issue of reconstruction after the hurricane Otis.

The note, beyond the signature, is that several directors of the main banks chose to make a quick pass and leave the meeting without staying until the end, and be careful, not because they had some more important pending matters to attend to, but because to Several of them commented with complete frankness that they did not like the governor and preferred a healthy distance. The criticism is due to the way in which it handled the hurricane crisis, and also because there are financial issues that they consider affect the state and only they do not solve them.

For now, the coin is in the air.