Strengthening and productive transformation as pillars of development and poverty reduction

(Rio de Janeiro, June 17, 2012). Productive Transformation Towards Low Carbon Economies: Financing Mechanisms was the title of the seminar organized by CAF - development bank of Latin America - which brought together leaders from government, and financial and intergovernmental organizations in the framework of Rio +20.

Participants in the event exchanged experiences and views on the opportunities and challenges for financing the transition to sustainable development and poverty reduction and heard success stories from Latin America and new means of financing to promote sustainable productive processes and use of natural resources.

During his welcome remarks, Enrique Garcia, CAF president & CEO, reaffirmed his institution’s commitment to an integrated development model "where sustainability in the broadest sense of the word is the key player." "CAF, as development bank of Latin America, bases its actions on the two pillars of its mission: integration and sustainable development."

"It is a good time to reflect on the challenges posed by development - Garcia said – in relation to Rio+20 - and the need for countries, through joint work by the public and private sectors, to adapt their strategies to a sustainability-based model."

In this respect, the CAF president welcomed the role played by development organizations as catalysts for promoting the strategy.

The organization of the seminar reflected the priority objective of increasing efficiency in the use of natural resources in all production processes in an effort to minimize negative impacts on the environment, while ensuring sustainable growth with economic stability and social inclusion.

The seminar was attended by Carlos Klink, secretary general of Climate Change and Environmental Quality of the Brazilian Ministry of Environment; Alicia Barcena, executive secretary of the Economic Commission for Latin America and the Caribbean (ECLAC); Peter Gilruth, Division of Early Warning and Assessment of the United Nations Environment Program (UNEP); Santiago Madriñán, executive director of the World Business Council for Sustainable Development (WBCSD); and Christiana Figueres, secretary general of the UN Framework Convention on Climate Change , among other international figures.

Specific actions, tangible benefits

With the first award of its prize for low-carbon productive transformation, CAF recognized the work of Latin American companies that have carried out successful productive transitions .

The winner of the award was selected from a sample of 150 companies that met the eligibility criteria, including voluntary alignment with global goals associated with best practices of sustainability, adoption of international standards, market recognition, and an integrated environmental assessment.

The Top 10 Latin American companies on the path towards a low carbon economy in the CAF Prize selection were:

• Natura (Brazil)
• Bradesco (Brazil)
• Nacional Federación of Coffee Growers of Colombia (Colombia)
• CEMEX, S.A.B. de C.V. (Mexico)
• Suzano Papel e Celulosa (Brazil)
• Acindar-Grupo ArcelorMittal (Argentina)
• Bimbo Group (Mexico)
• Celulosa Arauco y Constitución, S.A. (Chile)
• Fomento Económico Mexicano, S.A.B. de C.V.-FEMSA (Mexico)
• Unión de Cervecerías Peruanas Backus y Johnston, S.A.A. (Peru )

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