Davos-Klosters, Switzerland, 26 May 2022 – The Partnership for Central America (PCA), launched in 2021, aims to address the root causes of migration by promoting economic opportunities in the region. The PCA initiative invites businesses and social enterprises to respond to US Vice-President Kamala Harris' call to action to help send a signal of hope to the people of Northern Central American countries.
Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, participates in the initiative, discussed during the World Economic Forum’s Annual Meeting 2022. It will be implemented through a series of workshops on the importance of the Stakeholders Capitalism and the practical implementation of the ESG framework.
The new initiative to make new significant commitments with businesses and social enterprises responds to US Vice-President Kamala Harris' call to action for companies and social enterprises to help send a signal of hope to the people of Northern Central American countries.
The ESG initiative aims to enable the private sector's contributions to improve the region's socioeconomic conditions and environmental resilience. The World Economic Forum, through the adoption of ESG principles and the Stakeholder Capitalism Metrics (SCM), has brought together 150 CEOs to align their strategy and corporate reporting to better serve society under four pillars aligned with the UN's Sustainable development Goals and principal ESG domains: Principles of Governance, Planet, People and Prosperity.
Implementing such a framework enables the expansion of high-quality jobs and enhances trade and investment opportunities. Many companies in the region are part of broad value chains increasingly demanding these corporate standards and practices.
Jonathan Fantini-Porter, Executive Director of the Partnership for Central America, said: "The World Economic Forum's framework bridges ESG opportunities with investor needs to drive greater economic development. Creating an enabling environment to attract new businesses and investors is critical in creating jobs for communities across the region."
"We will bring together local business leaders to drive change and create opportunities to improve the socioeconomic and environmental conditions in their societies," said Marisol Argueta, Head of Latin America, World Economic Forum.
As part of the broad work of the Forum's SCM deployment in Latin America, the ESG initiative for the Northern Central American countries seeks to motivate a corporate cultural adjustment to adopt the global SCM. It will build awareness and discuss the benefits and opportunities of implementing structured ESG reporting metrics and practices according to global trends in the Central American context.
The World Economic Forum and the Partnership for Central America will work with professional services companies and national business associations. CentraRSE in Guatemala, Fundharse in Honduras and Fundemas in El Salvador will convene the private sector to facilitate roundtable discussions with three objectives:
The outcomes will provide a mapping of the ESG context in the region. It will highlight the findings and provide practical recommendations and best practices for adopting the ESG framework in the Northern Central American countries.
About the Annual Meeting 2022
For over 50 years, the World Economic Forum has been the international organization for public-private cooperation. The Annual Meeting is the focal point for leaders to accelerate the partnerships needed to tackle global challenges and shape a more sustainable and inclusive future. Convening under the theme, History at a Turning Point: Government Policies and Business Strategies, the Annual Meeting 2022 and its 450 sessions bring together global leaders from business, government and civil society. Learn more about the programme and view sessions live and on-demand.
Notes to editors:
Learn about the Forum’s impact on http://wef.ch/impact
Watch live webcasts of sessions and get more information about the meeting at www.wef.ch/wef22
Guide to how to follow and embed sessions on your website at www.wef.ch/howtofollow
View the best photos from the event at https://www.flickr.com/photos/worldeconomicforum/
Read the Forum Agenda at http://wef.ch/agenda
Become a fan of the Forum on Facebook at http://wef.ch/facebook
Watch Forum videos at http://wef.ch/youtube
Listen to the Forum’s podcasts at wef.ch/podcasts
Follow the Forum on Instagram at http://wef.ch/instagram
Follow the Forum on LinkedIn at http://wef.ch/linkedin
Subscribe to Forum news releases at http://wef.ch/news