Making global progress in responsible investments

By Gema Sacristán, Chief Investment Officer, IDB Invest   Responsible finance flourished when they were most necessary: shortly after the financial crisis of 2008. Its momentum has come from increasingly more conscious investors.   When in January 2004 Kofi Annan wrote to fifty CEOs of the world’s largest financial institutions, he could not imagine the global impact of his call. The then UN Secretary- General invited them to join the World Bank’s initiative to introduce responsible financial management and incorporate ESG (environmental, social and governance) factors in capital markets. Nor could Annan imagine that the acronym ESG would be on everyone’s lips just a few years later, along with another, SDG, which corresponds to the Sustainable Development Goals. These 17 […]

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Global Tourism Industry on Track for Full Recovery by 2024

The global tourism industry is set to reach, and possibly surpass, pre-pandemic levels by the end of 2024, according to the World Economic Forum (WEF). Five years post-COVID-19, the sector is experiencing a robust resurgence driven by a surge in international travel, improved air connectivity, and strong rebounds in key regions. However, global dynamics must be managed carefully to ensure stable and continuous growth. In 2023, international tourism reached 88% of its 2019 levels, a significant recovery favored by the reopening of Asian markets, as highlighted by the United Nations World Tourism Organization (UNWTO). The Middle East led the way, surpassing pre-pandemic levels by around 20%, with Europe, the Americas, and Africa following close behind at approximately 90% of their […]