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InvestChile launches program for overseas companies to improve sustainable development practices

The initiative, developed in alliance with Sistema B Chile, seeks to help companies increase their contribution to the country’s sustainable development.   

InvestChile, the Foreign Investment Promotion Agency, has launched a program to foster the adoption of best practices with a triple impact – economic, social and environmental – by overseas companies with operations in Chile. The initiative will be implemented together with Sistema B Chile under international standards.

The program – which has no cost for companies – lasts four months and includes an evaluation of their socio-environmental performance and contribution to the 2030 Agenda for Sustainable Development. Companies participating will also receive a performance report.

According to the acting director of InvestChile, Juan Araya, the objective is to identify companies’ social and environmental performance and transparency, detect risks and provide guidelines for managing, improving and amplifying their impact on the country’s sustainable development.

“The idea is for overseas companies present in Chile to contribute to the current socio-environmental challenges through concrete measures, especially considering today’s complex times, and, in this way, achieve a multiplier effect in the Chilean business ecosystem, looking ahead to the post-pandemic situation. Through this program, we will help with an initial diagnosis so that companies can then set themselves targets for improvement,” said Araya.

The initiative uses the parameters of Sistema B Chile’s Measure What Matters Program, which is designed to help companies measure, manage and improve the socio-environmental performance of their value chain, whether suppliers, distributors, clients, branches, subsidiaries or others, based on the highest international standards, using B Analytics and SDG Action Manager software.

“Under this agreement, overseas companies in Chile will be able to measure and compare their performance with the same tool that more than 3,200 B Corps around the world have used. They will also be able to measure their performance on each of the Sustainable Development Goals, detecting opportunities to positively impact their social and environmental context,” noted Josefa Monge, executive president of Sistema B Chile.

To access the program, companies must be committed to the measurement process, be overseas companies with operations in Chile and have been in contact with and/or received support from InvestChile.