BUENOS AIRES, Argentina – IDB Invest has extended Argentina's Sustainable Financing Protocol for another five years, reaffirming its role as a strategic partner. Since its launch in 2019, the Protocol has been key in driving sustainable finance across Argentina's banking sector.

Thirty-seven financial institutions, representing over 94% of the loan market, have renewed their commitment to advancing sustainable development. These entities pledged to further integrate environmental, social, and governance (ESG) criteria into their financial strategies, emphasizing the importance of sustainable finance in Argentina.

Over the past five years, the Protocol has supported the creation of sustainability policies, assessed environmental and social risks, and promoted climate change and deforestation initiatives. It has also advanced gender and disability agendas within the country.

The Protocol has garnered backing from key banking associations, including the Argentinian Banks Association (ADEBA), the Argentine Banks Association (ABA), the Public and Private Banks Association (ABAPPRA), and the Association of Specialized Banking (ABE), as honorary members.

The event, held at IDB and IDB Invest offices in Buenos Aires, featured remarks from IDB Invest CEO James Scriven, who emphasized sustainable finance as a catalyst for positive change in Argentina.

"Sustainability is no longer an added value but a core element of modern business strategies. At IDB Invest, we believe Argentina and Latin America can lead the way, turning environmental and social challenges into profitable investment opportunities," said Scriven.

Viviana Alva Hart, IDB's Representative in Argentina, joined presidents, directors, and other top executives from affiliated entities and banking associations at the event.

IDB Invest also highlighted the Protocol’s achievements and set new goals for the next five years, underlining its ongoing commitment to promoting sustainability in the region. IDB Invest's investment portfolio continues to prioritize renewable energy, green infrastructure, and support for small and medium-sized enterprises.

About IDB Invest

IDB Invest, a member of the Inter-American Development Bank Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $21 billion in assets under management and 394 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries.