NEW REPORT: Compliance and Sustainability Practice and Policies in Latin America – Case Studies of Brazil, Chile, and Mexico
April 24, 2023 Articles, Uncategorized
A STUDY THAT REFLECTS THE BEST PRACTICES, OPPORTUNITIES, AND BARRIERS IDENTIFIED IN LATIN AMERICA REGARDING COMPLIANCE AND SUSTAINABILITY
In recent decades, this region of the American continent has experienced truly remarkable economic and social progress. At the same time, awareness about the importance of concepts such as sustainability and compliance has increased. However, despite these significant advances, there are still important challenges to overcome in terms of sustainable development. Given the enormous diversity of countries in the American continent, three nations have been selected for their relevance, development, and dimension: Brazil, Chile, and Mexico.
In this context, the IE – Elecnor Observatory on Sustainable Compliance Cultures launches its second report titled ‘Compliance and Sustainability Practice and Policies in Latin America – Case Studies of Brazil, Chile, and Mexico’, which reflects the best practices, opportunities, and barriers identified in the analysis of the reality of each of these countries.
A STUDY CONDUCTED BY A MULTIDISCIPLINARY TEAM
This study has been conducted by a multidisciplinary team from IE University, consisting of Marie-Jose Garot, professor of Law and Vice Dean of the Faculty of IE Law School; Joaquín Garralda Ruiz De Velasco, Professor of Sustainability at IE University; Katharina Miller, Compliance Professor at IE Law School and Founding Partner of 3C Compliance; and Patricia Gabaldón Quiñones, Professor of Economics at IE University.
PURPOSE
The study aims to investigate compliance and sustainability value trends in Brazil, Chile, and Mexico by analyzing the current situation in these countries, both from a legislative perspective and in terms of the transparency of companies’ communication about their compliance. For the lessons learned to be applied not only in Latin America but also in other parts of the world.
KEY FINDINGS
Among its most notable findings, the study’s results indicate that there is a high level of conformity with the regulations regarding compliance and sustainability in leading companies. However, practices and controls do not demonstrate integration into their culture. Companies that need external financing or depend heavily on their market value show great sensitivity to reputational risks and are aware of the trend toward transparency and sustainability, positioning themselves as agents of change. The speed of implementation and acceptance of more demanding standards and policies could increase due to extreme climate processes.
Read more
To know more about this topic, we invite you to read the report.