Esg and impact investing—Chile—Q&A guide

The following Financial Services practice note provides comprehensive and up to date legal information covering:

  • Esg and impact investing—Chile—Q&A guide
  • 1. Has your jurisdiction enacted any primary or secondary legislation addressing environmental, social and governance (ESG) factors in banking, finance and corporate law, or legislation addressing the pursuit of other non-financial objectives by companies and investors?
  • 2. How would you describe the general level of policy guidance and development regarding ESG, impact investing and purpose-driven companies in your jurisdiction?
  • 3. Are institutional investors and financial intermediaries legally required to consider ESG factors when making investment decisions? Must any additional non-financial principles and objectives be considered?
  • 4. What voluntary standards and best practices are commonly followed in your jurisdiction with regard to integrating ESG factors and other non-financial principles into investment decisions?
  • 5. What voluntary and statutory measurement, reporting and disclosure frameworks are followed in your jurisdiction with regard to ESG and other non-financial factors?
  • 6. What ratings, indices and guidelines are used to benchmark adherence to ESG principles and other non-financial factors in your jurisdiction?
  • 7. Are any fiscal incentives or other benefits available in your jurisdiction to encourage institutional investors and financial intermediaries to integrate ESG and other non-financial factors into their investment decision-making?
  • 8. In addition to ESG factors, what considerations and practices are commonly integrated into impact investment strategies?
  • 9. What legal forms or statuses are used in your jurisdiction to establish purpose-driven companies?
  • More...

Esg and impact investing—Chile—Q&A guide

This Practice Note contains a jurisdiction-specific Q&A guide to esg and impact investing in Chile published as part of the Lexology Getting the Deal Through series by Law Business Research (published: May 2021).

Authors: Carey—Cristián Eyzaguirre; Francisco Guzmán; Benjamín Sáa

1. Has your jurisdiction enacted any primary or secondary legislation addressing environmental, social and governance (ESG) factors in banking, finance and corporate law, or legislation addressing the pursuit of other non-financial objectives by companies and investors?

ESG factors and the pursuit of non-financial objectives is a relatively new trend in Chile that has raised a lot of attention. However, there is only some secondary legislation (NCG 385 and NCG 386) addressing ESG factors, which has been issued by the Financial Market Commission (Comisión para el Mercado Financiero or CMF) related to certain mandatory reports, which must include information about the adoption of ESG factors. There is no obligation to apply such factors but it is mandatory for listed companies and issuers of publicly offered securities to report whether they have adopted them and their status regarding diversity ratios and the gender pay gap. Such information must be submitted each year through a direct communication to the CMF and must be included in a special section of the companies' annual report.

Entities reporting to the CMF shall address ESG topics by answering a questionnaire on

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