Summary
The superintendency has set forth the minimum requirements for social and environmental risk management in order to promote these practices among financial firms, and therefore diminish the likelihood and severity of social conflicts associated with business activities to which financial firms allocate capital. The objective of this regulation is to establish minimal requirements for social an environmental risk management in order to encourage the firms to implement the best practices and prudent decision making process. This regulation does not attempt to transfer the responsibility or roles that belong to public institutions in charge of social and environmental issues to the firms, or make the firms responsible for potential regulatory breaches by projects and/or their primary suppliers.