Ethical impact in the financial world.
Ethical finance brings together regional leaders (Fundación Dinero y Conciencia, Doble Impacto, Sistema B); social and impact investors; social economy and fair
trade organizations; wealthy families; government officials that oversee social, environmental, economic, and financial areas; former bankers and former banking
regulators; and long-standing partners of Avina working on related issues.
To finance sustainable development by creating ethical banks in Latin America and assisting leaders and institutions in the transition to more ethical and transparent financial practices.
A regional leadership group and local steering groups were formed. Methodological transfers were promoted, regulatory reviews and feasibility studies were shared, and communications campaigns were carried out.
The concept of ethical banking or values-based banking is an innovation within the traditional banking system. It is based on criteria for declining an investment opportunity (such as activities that infringe on the rights of people), radical transparency, and dual governance.
Projects are focused on 3 areas: environment, society, and culture.
Ethical banking invests in transitions toward sustainability (from negative impact to positive impact).
• Two platforms (Doble Impacto in Chile and Rede Dinheiro e Consciência in Brazil) and a social microloan fund (Equilibrium in Argentina) were launched.
• The concept of “mesocrédito” for cooperative businesses was adopted in Argentina.
• Traditional banks sought advice on how to become more ethical.
