News Articles

Bovespa Incorporates Environmental Projects in Exchange

Ben Dappen

Bovespa president, Raymundo Magliano Filho, announced on 03/07, at a Bovespa event attended by Achim Steiner, executive director of the Programa das Naµes Unidas para o Meio Ambiente (PNUMA – United Nations’ Environment Program), that, as of April, Bolsa de Valores Sociais (BVS – Social Values Exchange) will enhance its performance to also include environmental projects as well. Accordingly, BVS will be renamed Bolsa de Valores Sociais & Ambientais (BVS&A – Social & Environmental Values Exchange). Founded in 2003 and maintained by Bovespa, BVS has raised funds for educational projects undertaken by Brazilian NGOs.

Bovespa president, Raymundo Magliano Filho, announced on 03/07, at a Bovespa event attended by Achim Steiner, executive director of the Programa das Naµes Unidas para o Meio Ambiente (PNUMA – United Nations’ Environment Program), that, as of April, Bolsa de Valores Sociais (BVS – Social Values Exchange) will enhance its performance to also include environmental projects as well. Accordingly, BVS will be renamed Bolsa de Valores Sociais & Ambientais (BVS&A – Social & Environmental Values Exchange). Founded in 2003 and maintained by Bovespa, BVS has raised funds for educational projects undertaken by Brazilian NGOs. By incorporating the environmental theme, BVS&A will enhance from 30 to 35 the number of permanently listed projects – those which succeed in obtaining the requested funds leave the listing, giving room to new projects. According to Magliano, the goal of such change is to integrate the chief social responsibility program by Bovespa into the concept of sustainable policies, in line with the ten principles of the Global Compact, and four of them are related to the environment. BVS&A will work the same way as BVS, in other words, as a meeting place between social and environmental investors and projects calling for financial funds so that they can be deployed or enhanced. Those enrolled and approved projects will be included in the site, www.bovespasocial.org.br, then enabling the audience to select those which they are willing to contribute to and make cash donations. The funds raised will be fully transferred by Bovespa to the social and environmental organizations without any charge or deduction, and donors will also be able to follow the progress of the selected projects through the web site, thereby assuring a both transparent and safe process.

Ben Dappen has worked with Forest Trends since November 2000 as Webmaster and IT Associate, and also provides design and publishing support. He also serves as a web developer for a number of Forest Trends' partners, including the Rights and Resources Initiative (RRI) and Ecoagriculture Partners. Ben graduated from Reed College in 2004 with a History degree.

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