The Caracas Stock Exchange (BCV) and UNDP Venezuela announced that the first Financial Sustainability Index will be created within the next two years. Photo: UNDP Venezuela.
Guacamaya, June 10, 2025. The Caracas Stock Exchange (BCV) and the United Nations Development Programme (UNDP) will create Venezuela’s first Financial Sustainability Index. Monday’s announcement marks a historic milestone for the country’s business and financial sectors.
The goal is to drive private investment toward initiatives that generate economic, social, and environmental impact in the country—an area where Venezuela has lagged behind its neighbors.
During a presentation at the BCV, officials outlined a four-phase plan over the next two years, which will include “technical training, the development of measurement and reporting tools, practical application in pilot projects, and the creation of a Financial Sustainability Index for the Venezuelan market.”
Tomiris Useche, a specialist in Sustainable Development Finance, represented the UNDP at the presentation. “This is a comprehensive program. We need institutional support, and the backing of Sunaval (the National Securities Supervisory Body) is key. What we seek is to accelerate the market’s alignment with the Sustainable Development Goals (SDGs) through innovative instruments or a culture of responsible investment, which means beginning to align with sustainability and governance criteria.”
José Grassio Vecchio, president of the stock exchange, explained that “the central purpose of this partnership is to mobilize resources that positively impact key areas such as environmental protection and social development.”
Vecchio also mentioned that the issuance of sustainable bonds—which would be introduced for the first time in the country—will be promoted. These are debt instruments that can only be used to finance projects contributing to sustainable development.
Compared to other countries, Venezuela’s business sector has shown little interest in the environmental and social impact of investments, partly justified by the economic—and multifaceted—crisis of the past decade.
Additionally, the energy sector, in particular, has faced heavy criticism for failing to mitigate its negative environmental effects—beyond the production of fossil fuels—due to issues such as excessive gas flaring and venting, as well as spills in seas and rivers.
