The British Embassy in Asuncion, Paraguay, and the local MSF [Sustainable Finances Roundtable in English] recently signed a new Memorandum of Understanding supporting sustainable finance.
Signed on October 5 - the MFS’ ten-year anniversary - the Memorandum of Understanding is targeted toward strengthening climate action and international co-operation.
The agreement commits both parties to work together to promote sustainable development in finance, using the industry to enable sustainable, low-carbon and resilient development to the effects of climate change.
The agreement also paves the way for joint initiatives from both parties to create a more inclusive financial system and strengthen capability.
The British Embassy in Asuncion said that partnerships such as this Memorandum of Understanding would enable key collaborations to mobilise resources which will help combat the adverse effects of climate change and the irreversible effects of it.
The signing took place at the Talleyrand Jade Park and was attending by senior leaders from Paraguay’s national private banking industry. Executives from more than 10 banks in the country were able to attend and engage representatives from IDB Invest, part of the Inter-American Development Bank Group, and the Netherlands Development Bank [FMO].
Ramin Navai, the British ambassador to Paraguay, praised the MFS team for a decade of work promoting sustainable finance.
Navai also stressed that the period of now to 2030 would be critical in laying the foundations for a greener future.
He said: “Laying the foundations for a sustainable future depends not only on governments, but also on all sectors, including the financial sector.”
Photo by Towfiqu barbhuiya on Unsplash
