Un avance decisivo para la toma de decisiones financieras sostenibles

The document details the SFC's Circular Externa 015 of 2025, requiring financial entities in Colombia to identify, measure, control, and monitor environmental and social risks, including climate risks. It outlines the implementation timeline, the scope of applicable entities, and the conceptual framework for managing these risks within a financial institution's risk appetite and strategic planning.

• Circular Externa 015, issued on October 3, 2025, requires supervised financial entities to incorporate environmental and social risk analysis into their strategic planning and decision-making to ensure financial sustainability and business model resilience.
• The circular applies to all SFC-supervised entities, both individually and consolidated, specifically for products and services exposed to environmental and social risks. However, several entities are exempt, including financial holdings that do not directly perform financial activities, the Banco de la República, and various specialized societies such as stock exchanges and credit rating agencies.
• Social risk factors are defined as negative impacts on people or communities, particularly vulnerable populations and ethnic groups, arising from direct operations, the financial value chain, or external causes. Examples include unfair labor conditions, human rights violations, financing of conflicts, and threats to security.
• Environmental risk factors encompass negative impacts on nature, including biodiversity loss, degradation of soil, deforestation, and pollution of air, water, or soil. The document emphasizes the bidirectional link between climate and nature, noting that climate change drives biodiversity loss while nature degradation accelerates climate change.
• The risk management process consists of four stages: Identification, Measurement, Control, and Monitoring. The SFC currently requires an initial qualitative analysis for measurement (e.g., identifying exposed sectors and geographies), with a future expectation for quantitative measurement to determine potential costs and resource risks across different time horizons.
• Entities must align their environmental and social risk management with their Risk Appetite Framework (MAR), which includes the Risk Appetite Statement (DAR), capacity, limits, and tolerance levels.

APA

Transforma (2025). Un avance decisivo para la toma de decisiones financieras sostenibles. https://transforma.global/wp-content/uploads/2026/06/Circular-Externa-015-1.pdf

Chicago

Transforma. Un avance decisivo para la toma de decisiones financieras sostenibles. 2025. https://transforma.global/wp-content/uploads/2026/06/Circular-Externa-015-1.pdf.

Wikipedia

{{cite report |author=Transforma |title=Un avance decisivo para la toma de decisiones financieras sostenibles |date=2025 |url=https://transforma.global/wp-content/uploads/2026/06/Circular-Externa-015-1.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{transforma2025avance, author = {{Transforma}}, title = {{Un avance decisivo para la toma de decisiones financieras sostenibles}}, institution = {Transforma}, year = {2025}, url = {https://transforma.global/wp-content/uploads/2026/06/Circular-Externa-015-1.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }