SBFN Member Since:
2013
Member Organisations
Superintendence of Banks, Insurers, and Private Pension Funds of Peru(SBS)
Progress Against Pillars and Sub Pillars
This graphic can also be found within this country’s 2019 Country Progress Report.
Framework Documents
| Country | Policies/ Principles/ Guidelines | Year | Issuer |
|---|---|---|---|
| Peru | 2021 | Peru Ministry of Finance | |
| Peru | 2020 | Peru Ministry of Finance | |
| Peru | 2018 | Peru Ministry of Environment and Peruvian Banking Association (ASBANC) | |
| Peru | 2015 | Lima Stock Exchange | |
| Peru | 2015 | Superintendency of Banking, Insurance and Private Pension Fund Administrators (SBS) |
Strategic Development - Alignment with global E&S standards and best market practices
S1.1 – Does the framework make reference to international E&S targets (SDGs, Paris Agreement, Global Compact)?
No
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S1.2 – Does the framework make reference to established international E&S risk management standards (IFC PSs, EPs)?
Yes
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(2) – Page 6 – Regulatory Scope
The role of enhanced due diligence in the regulation of socioenvironmental risk management for financial firms (SBS, 2015)
S1.3 – Does the framework make reference to established international sustainability reporting standards (GRI, SASB)?
No
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S1.4 – Does the framework make reference to established international climate finance reporting standards (TCFD)?
No
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S1.5 – Does the framework ask to make E&S policies, practices and results externally verified (assurance, independent review)?
No
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Strategic Development - Multi-stakeholder collaboration
S2.1 – Does the framework involve interagency collaboration between financial supervisors/regulators, industry association, and FIs?
No
S2.2 – Does this collaboration also include other public agencies (e.g., environmental agencies, ministries)?
No
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S2.3 – Does this collaboration also include representatives of civil society (e.g., NGOs, associations, media)?
No
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Strategic Development - Alignment to NDCs and with National or Regional Climate Change Targets
S3.1 – Is the framework aligned with national NDCs or other national and regional policies on climate?
Yes
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(3) – page 9
Green Bond Guide for Peru (Bolsa de Valores de Lima, 2018)
S3.2 – Has the SBN member identified the main climate risks (transition/physical) for their local financial sector?
No
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ESG Integration - Governance of E&S
Role of Governing Bodies on E & S
E1.1 – Does the country policy require one of the FI’s governing bodies (e.g., Board of Directors, Executive Committee, Supervisory Board, etc.) to approve an E&S strategy?
Yes
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(1) – Page 4 – Article 5°
Regulation for Social and Environmental Risk Management (SBS, 2015)
E1.2 – Does the policy require management to report on E&S strategy implementation to the governing bodies?
Yes
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(1) – Page 4 – Article 5°
Regulation for Social and Environmental Risk Management (SBS, 2015)
E1.3 – Does the policy require FI operational bodies to report to the governing bodies (or specific Board committee) on implementation of the E&S strategy?
No
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Organization
E1.4 – Does the framework ask FIs to define E&S roles and responsibilities?
Yes
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(1) – Page 4 – Article 7°
Regulation for Social and Environmental Risk Management (SBS, 2015)
E1.5 – Does the framework highlight the E&S roles of front office staff and second lines of defense (e.g. risk officers and/or compliance officers)?
Yes
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(1) – Page 4 – Article 7°
Regulation for Social and Environmental Risk Management (SBS, 2015)
E1.6 – Does the framework ask FIs to define E&S competencies for each role?
Yes
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(1) – Page 4 – Article 7°
Regulation for Social and Environmental Risk Management (SBS, 2015)
E&S Risk Management
E&S Policy
E2.1 – Does the framework ask FIs to formalize an E&S or ESG policy?
Yes
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(1) – Page 4 – Article 5°
Regulation for Social and Environmental Risk Management (SBS, 2015)
E2.2 – Does the framework encourage FIs to go beyond E&S requirements of local laws and regulations?
Yes
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E2.3 – Does the framework ask FIs to set E&S objectives and targets?
No
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E2.4 -Does the framework ask FIs to publicly disclose their E&S policy and its governance?
No
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Risk Assessment
E2.5 – Does the framework require FIs to carry out appropriate E&S due diligence at transaction level?
Yes
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(1) – Page 3 – Article 4°
Regulation for Social and Environmental Risk Management (SBS, 2015)
E2.6 – Does the framework require FIs to carry out appropriate E&S due diligence at client level?
Yes
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(1) – Page 3 – Article 4°
Regulation for Social and Environmental Risk Management (SBS, 2015)
E2.7 – Does the framework encourage FIs to categorize projects/clients according to their level of E&S risk?
Yes
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(1) – Page 5 – Article 8°
Regulation for Social and Environmental Risk Management (SBS, 2015)
E2.8 – For high-risk transactions, does the framework encourage site visits to be organized?
Yes
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(1) – Page 7 – Article 11°
Regulation for Social and Environmental Risk Management (SBS, 2015)
E2.9 – In case of negative E&S impacts, does the framework invite FIs to engage with clients to implement mitigation measures?
Yes
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(1) – Page 6 – Article 9° – d) – e) – f)
Regulation for Social and Environmental Risk Management (SBS, 2015)
E&S Covenants
E2.10 – Does the framework ask FIs to incorporate E&S covenants and investment conditions into legal agreements with clients?
Yes
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(1) – Page 8 & 9 – Article 17°
Regulation for Social and Environmental Risk Management (SBS, 2015)
Project Supervision & Portfolio Review
E2.11 – Does the framework ask FIs to develop processes to manage E&S risks during supervision?
Yes
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(1) – Page 8 – Article 16
Regulation for Social and Environmental Risk Management (SBS, 2015)
E2.12 – Does the framework encourage a periodic review of E&S risks at aggregate portfolio level?
No
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Training
E2.13 – Does the framework ask FIs to develop and maintain E&S capacity through regular training?
Yes
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E2.14 – Does the framework highlight the training of (i) front office staff, (ii) second lines of defense (risk officers and/or compliance officers), and (iii) E&S experts?
No
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External Communication Mechanism
E2.15 – Does the policy require FIs to establish and maintain an inquiry/complaints/grievance mechanism in relation to E&S or ESG practices?
No
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E & S Reporting
E2.16 – Does the policy require FIs to report regularly on E&S or ESG performance, including publicly, to investors or to regulators?
Yes
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(1) – Page 9 – Article 18°
Regulation for Social and Environmental Risk Management (SBS, 2015)
E2.17 – Does the policy make E&S or ESG reporting and disclosure more consistent across financial institutions through principles, guidelines, or templates?
Yes
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The role of enhanced due diligence in the regulation of socioenvironmental risk management for financial firms (SBS, 2015)
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E & S Integration - Enforcement
E3.1 – Is the implementation of the framework regularly verified or is information regularly collected from FIs?
Yes
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(1)
Regulation for Social and Environmental Risk Management (SBS, 2015)
E3.2 – Is there any financial and/or non-financial incentive for establishing ESRM systems?
No
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E3.3 – Are there sanctions/penalties/warnings in case of noncompliance with the framework?
Yes
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(1) – Page 9 – Final and temporary provisions – One.
Regulation for Social and Environmental Risk Management (SBS, 2015)
Climate and Green Finance - Products and Services
Defining sustainable assets and financial products
C1.1 – Does the framework provide definitions and examples of green assets?
Yes
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(3) – page 12 –
Green Bond Guide for Peru (Bolsa de Valores de Lima, 2018)
C1.2 – Does the framework provide a comprehensive taxonomy of green assets?
Yes
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(3) – page 12 –
Green Bond Guide for Peru (Bolsa de Valores de Lima, 2018)
C1.3 – Does the framework provide definitions, examples, or a taxonomy of social and/or sustainable assets?
No
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C1.4 – Besides debt products (loans, bonds), does the framework provide definitions and examples of different types of sustainable finance products/services (e.g., saving accounts, means of payment, insurance, private equity, etc.)?
No
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Green Finance Product Guidelines
C1.5 – Does the framework provide guidelines for green loan/green credit or other green financial assets (excluding green bonds)?
No
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C1.6 – Does the framework provide guidelines for issuance of green bonds?
Yes
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(3)
Green Bond Guide for Peru (Bolsa de Valores de Lima, 2018)
C1.7 – Does the framework refer to existing standards (e.g., ICMA’s Green Bond Principles or CBI’s Climate Bonds Standard)?
Yes
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(3) – page 11
Green Bond Guide for Peru (Bolsa de Valores de Lima, 2018)
C1.8 – Does the framework recommend external party verification (e.g., second party opinion, assurance, certification)?
No
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Climate and Green Finance - Climate and Green Investment Reporting
Tracking and Disclosure of Climate & Green Finance
C2.1 – Does the framework ask FIs to report on climate/green finance flows (quantitatively or qualitatively)?
Yes
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(3) – page 13
Green Bond Guide for Peru (Bolsa de Valores de Lima, 2018)
C2.2 – Does the framework ask FIs to report on climate risk exposure at portfolio level?
No
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C2.3 – Does the framework encourage FIs to report publicly on their green finance activities (i.e. not only to the regulator)?
Yes
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-3
Green Bond Guide for Peru (Bolsa de Valores de Lima, 2018)
Climate and Green Finance - Measurement
Calculation of Environmental Benefits
C3.1 – Does the framework ask FIs to calculate the environmental benefits of their investments? (e.g., CO2 emission reduction, water saving, etc.)
Yes
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(3) – page 16
Green Bond Guide for Peru (Bolsa de Valores de Lima, 2018)
C3.2 – Does the framework provide a taxonomy of potential environmental impacts?
No
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C3.3 – Does the framework provide methodologies, tools, and/or templates to measure and report these impacts?
No
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Climate Risk Exposure Assessment
C3.4 – Does the framework ask FIs to monitor climate risk exposure at portfolio level?
No
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C3.5 – Does the framework refer to specific climate risk exposure methodologies (e.g., climate scenario analysis, climate risk stress testing, calculation of carbon risk exposure, tracking of energy efficiency for real estate portfolio)?
No
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C3.6 – Does the framework encourage FIs to take mitigating steps on these risks?
No
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Climate and Green Finance - Incentives
Financial and Non-Financial Incentives
C4.1 – Does the framework provide any type of incentives for green financial products and services?
No
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C4.2 – More specifically, does the framework introduce financial incentives on green products and services?
No
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