November 2011: The UN Global Compact convened a Business Forum for Latin America and the Caribbean (LAC) on 9 November 2011, in Mexico City, Mexico, focused on advancing corporate sustainability in the region, followed by a two-day regional meeting in Mexico City of 11 Global Compact Local Networks.

The Business Forum, held at the Mexican Stock Exchange (Bolsa Mexicana de Valoes – BMV) and attended by more than 200 representatives from business, investor groups and local networks, was organized by the Bogota, Colombia-based Regional Center for the Support of the Global Compact. The Forum aimed to facilitate implementation of the Compact in LAC through sharing of best practices on human rights, labor, environment and anti-corruption, and dialogue on and discussion of such issues as responsible investing, corporate governance, sustainable development and the UN Conference on Sustainable Development (UNCSD, or Rio+20).

Keynote speaker Juan Rafael Elvira Quesada, Environment Minister, Mexico, urged governments and the private sector to work together in developing a green economy and eradicating poverty. Luis Téllez Kuenzler, President, BMV, previewed the December release of a Mexican Sustainability Index of companies. Soren Petersen, UN Global Compact Head of Local Networks and Partnerships, presented on the role of stock exchanges in promoting environmental, social and governance reporting by companies.

The subsequent regional meeting was attended by more than 30 representatives from the Regional Center and the Local Networks of Argentina, Brazil, Chile, Colombia, Dominican Republic, Mexico, Panama, Paraguay, Peru, Uruguay and the US. Among other issues, the meeting focused on preparations for Rio+20, including pre-UNCSD regional events planned by Local Networks and in collaboration with other stakeholders from the Corporate Sustainability Forum. It also discussed the role Local Networks can play as “national sustainability hubs” promoting collective action and policy dialogue on sustainable development issues.

Also held in conjunction with the regional meeting was a training session for 60 LAC business participants and Local Network staff on implementing the Global Compact principle against corruption. [Global Compact Release on LAC Business Forum] [Global Compact Release on LAC Regional Meeting]