Last Friday, the Financial Market Commission published the new NCG No. 461, which incorporates sustainability and corporate governance issues in the annual report of the issuers of securities supervised by the entity.
The issuance of this standard follows two regulatory proposals in which the CMF sought to incorporate environmental, social and governance (“ESG”) criteria, which have been a global trend for some time now. Undoubtedly, this means an advance in the information that investors and consumers will have available.
From 2022 onwards, we will be able to observe how companies are taking charge of their environmental impacts in a context of climate crisis where rapid action by the business world is urgently needed. It will also be possible to identify which companies have created transparent and solid corporate governance that allows for more ethical behavior.
Finally, we will learn which players have decided to address important social issues such as gender equality and the reduction of the wage gap. This will allow us to reward those companies that have focused not only on increasing their profits, but also on creating shared value.