October 28 and 29

Hall 3, Paseo La Galería, Asunción, Paraguay

6th International Sustainable Finance Forum – 2025

Leadership that transforms: from strategy to action

The Sustainable Finance Roundtable of Paraguay (MFS) organized the sixth edition of the International Sustainable Finance Forum, consolidating it as a reference space that brought together financial institutions, multilateral organizations, companies, and prominent national and international leaders.

The 2025 Forum was a meeting point for sharing experiences, building strategic alliances, and discussing the most relevant trends in sustainable finance, under the vision of integrating the economic, environmental, and social dimensions in a balanced way.

Over the course of two days, key topics were addressed, including green taxonomy, sustainable financial products, forest investments, renewable energy and energy efficiency, circular economy, carbon credits, climate risks, financial inclusion, and sustainability.

This gathering sought to strengthen the role of the financial system as a driver of sustainable and responsible development in Paraguay and the region.

Featured Speakers

Edhit Barreto

President

Sustainable Finance Roundtable of Paraguay (MFS)

Alonso Chaverri

Country Representative

Inter-American Development Bank (IDB)

Laura María Santa Zuluaga

Senior Climate Finance Advisor

Transforma

Julio Cristaldo

Manager of Analysis and Regulation

Superintendency of Banks of Paraguay (SIB)

Oscar Lora Rocha

Senior Fiscal Management Specialist

Inter-American Development Bank (IDB)

Bianca Santos Larrussa

Rabobank

Dominica Zavala

Director

Development Finance Agency (AFD)

Luiz Calado

LATAM Engagement Manager

World Resources Institute (WRI)

Matías Kelly

Director and Co-founder

Sumatoria

Fernando Díaz de Vivar

Director of Sustainable Markets and Finance

WWF - Paraguay

Tomás Kovensky

IFACC Initiative Representative

The Nature Conservancy

Maurik Jehee

Principal Investment Manager Forestry

Dutch Development Bank (FMO)

Flavio Deganutti

CEO

Paracel

Fernando Lugo

General Manager

Development Finance Agency (AFD)

Roberto López

Program Coordinator

United Nations Environment Programme (UNEP)

Isaac Godoy

Director

Development Finance Agency (AFD)

Nicolás Foisaac

Renewable Energy Specialist

Omar Villacorta

Senior Financial Markets Specialist

Inter-American Development Bank (IDB)

Jorge Orrego

Member

Sustainable Finance Roundtable of Paraguay (MFS)

Jorge Jiménez

Full Member

Sustainable Finance Roundtable of Paraguay (MFS)

Andrea Corzo

Deputy Director of Air, Auditory and Visual Quality

Bogotá Environment Secretariat

Marcelo Sabanés

Executive Director

Circular Economy Innovation Hub

Romina Da Re

General Director of Information and Internationalization of MSMEs

Ministry of Industry and Commerce (MIC)

Ximena Mendoza

Founder and Director

Mboja'o S.A.

Mirta Martínez

Senior Consultant

GOPA AFC

Iván Darío Valencia

Senior Policy Officer

Global Green Growth Institute (GGGI)

Diego Puente

President

Victoria S.A.

Yan Speranza

Executive Director

Fundación Moisés Bertoni

Natalia Benavides

Senior Consultant

Futuris Consulting

Cristina Paredes

Investment Officer, Financial Institutions Division

Inter-American Investment Corporation (IDB Invest)

Diego Galeano

Vice President

Sustainable Finance Roundtable of Paraguay (MFS)

Carlos María Florentín Benítez

Strategic Planning & Innovation Manager

Bancop

César Vargas

General Manager

National Development Bank (BNF)

Darío Colmán

Former Board Member

Sustainable Finance Roundtable of Paraguay (MFS)

Miguel Ríos

General Manager

Sustainable Finance Roundtable of Paraguay (MFS)

Lilian Portillo

Planning Director

Ministry of Environment and Sustainable Development (MADES)

Belén Rodríguez

Sustainability Specialist

Banco Basa - Paraguay

Fabio Lucantonio

Director of Energy Resources

Vice Ministry of Mines and Energy (VMME)

Event Agenda

07:30 - 08:30

Participant Registration

08:30 - 08:40

Welcome Remarks

Edhit Barreto, President of the Sustainable Finance Roundtable of Paraguay

08:40 - 08:45

Presentation of the 2025 Sustainable Finance Forum

Alfonso Chaverri, Country Representative, IDB

Green taxonomy is an essential tool to guide responsible investments that contribute to the sustainable transition. Paraguay is building its national framework to align the financial system with these standards.

08:45 - 09:10

The importance of Green Taxonomy and its impact on the financial and economic system

Experiences in Latin America and the Caribbean. Laura María Santa Zuluaga, Senior Climate Finance Advisor, Transforma, Colombia.

09:10 - 09:25

Paraguay and its commitment to sustainable development: Building the National Green Taxonomy

Julio Cristaldo, Manager of Analysis and Regulation of the Superintendency of Banks of Paraguay (SIB).

09:25 - 10:05

Panel discussion: Green Taxonomy in the region and in Paraguay: learnings, motivations and challenges toward implementation

Panelists: Julio Cristaldo, Manager of Analysis and Regulation of the Superintendency of Banks of Paraguay (SIB), Paraguay, and Laura María Santa Zuluaga, Senior Climate Finance Advisor, Transforma, Colombia. Moderator: Oscar Lora Rocha, IDB, Bolivia.

10:05 - 10:10

Questions and Answers

10:10 - 10:30

Coffee Break

The development of green financial products is key to channeling resources toward projects with positive impact. National and international experiences showing challenges and opportunities will be analyzed.

10:30 - 10:50

Development of Green Products, key to sustainability

Bianca Santos Larrussa, Rabobank, Brazil.

10:50 - 11:10

Financial intermediation and its contribution to global impact objectives

Dominica Zavala, Director of the Development Finance Agency (AFD), Paraguay.

11:10 - 11:50

Panel discussion: Financing, structuring and monitoring green products for sustainable development

Panelists: Luiz Calado, World Resources Institute (WRI), Brazil; Matías Kelly, Director and Co-founder, Sumatoria, Argentina; Dominica Zavala, Director, Development Finance Agency (AFD), Paraguay. Moderator: Fernando Díaz de Vivar, Director of Sustainable Markets and Finance, WWF-Paraguay.

11:50 - 11:55

Questions and Answers

11:55 - 12:00

Module Closing

Tomás Kovensky, IFACC representative, Brazil.

12:00 - 14:00

Lunch

Forestry investments represent an opportunity to drive sustainable development and generate multiple environmental and social benefits in Paraguay.

14:00 - 14:25

Replicable international models

Maurik Jehee, Dutch Development Bank (FMO), Netherlands.

14:25 - 14:45

Paracel as a driver of sustainable development: where we are and next steps

Flavio Deganutti, CEO of Paracel, Brazil.

14:45 - 15:25

Panel discussion: Forestry investments in Paraguay: opportunities, challenges and growth prospects

Panelists: Flavio Deganutti, CEO Paracel, Brazil; Fernando Lugo, General Manager of AFD. Moderator: Roberto López, Coordinator of the United Nations Environment Programme (UNEP), Paraguay.

15:25 - 15:35

Questions and Answers

15:35 - 15:55

Coffee Break

Energy efficiency and the use of renewable energy are pillars for sustainable development. Paraguay has significant potential in these areas.

15:55 - 16:15

Availability and energy opportunities in Paraguay

Fabio Lucantonio, Director of Energy Resources, Vice Ministry of Mines and Energy (VMME), Paraguay.

16:15 - 16:55

Panel discussion: Coordination among public policies, financial products and energy efficiency, and their challenges and opportunities for the sector in Paraguay

Panelists: Isaac Godoy, AFD Director, Paraguay; Fabio Lucantonio, VMME Director, Paraguay; Nicolás Foisaac, Renewable Energy Specialist, Paraguay. Moderator: Omar Villacorta, Senior Financial Markets Specialist, Inter-American Development Bank (IDB), Bolivia.

16:55 - 17:05

Questions and Answers

17:05 - 17:15

Day 1 Summary

Omar Villacorta, Renewable Energy Specialist, Inter-American Development Bank (IDB), Bolivia.

17:15 - 17:25

Closing Remarks

Jorge Orrego, Member of the Sustainable Finance Roundtable of Paraguay.

17:25 - 18:00

Coffee break and networking

07:30 - 08:30

Participant Registration

08:30 - 08:35

Opening Remarks

Jorge Jiménez, Full Member of the Sustainable Finance Roundtable of Paraguay (MFS).

08:35 - 08:40

Presentation of the Sustainable Finance Forum - Day 2

The circular economy proposes a sustainable production and consumption model that reduces waste and maximizes resources. In Paraguay, this model is gaining ground as a profitable and environmentally responsible alternative.

08:45 - 09:10

Circular economy: experience in the region

Andrea Corzo, Deputy Director of Air, Auditory and Visual Quality, Bogotá Environment Secretariat, Colombia.

09:10 - 09:30

Circular model: business opportunities and sustainable alliances

Marcelo Sabanés, Executive Director, Circular Economy Innovation Hub, Paraguay.

09:30 - 10:10

Panel discussion: Circular economy in action: public-private integration and sustainable financing

Panelists: Romina Da Re, General Director of Information and Internationalization of MSMEs, Ministry of Industry and Commerce (MIC), Paraguay; Andrea Corzo, Deputy Director of Air, Auditory and Visual Quality, Bogotá Environment Secretariat, Colombia; Ximena Mendoza, Founder and Director of Mboja'o S.A., Paraguay. Moderator: Mirta Martínez, Senior Consultant, GOPA AFC, Germany.

10:10 - 10:15

Questions and Answers

10:15 - 10:35

Coffee Break

Carbon credits are instruments that contribute to the reduction of greenhouse gas emissions and offer new economic opportunities.

10:35 - 10:55

International experience in carbon credits: lessons learned in the region

Iván Darío Valencia, Senior Policy Officer, Global Green Growth Institute (GGGI), Colombia.

10:55 - 11:15

Legal and regulatory aspects of carbon credits in Paraguay

Lilian Portillo, Legal Director, Ministry of Environment and Sustainable Development (MADES), Paraguay.

11:15 - 11:55

Panel discussion: Carbon credits in Paraguay: market opportunities and implementation experiences

Panelists: Lilian Portillo, Legal Director, Ministry of Environment and Sustainable Development (MADES), Paraguay; Iván Darío Valencia, Senior Officer GGGI; Diego Puente, President of Victoria S.A., Paraguay. Moderator: Yan Speranza, Executive Director of Fundación Moisés Bertoni, Paraguay.

11:55 - 12:00

Questions and Answers

12:00 - 14:00

Lunch

Integrating climate risk into financial management is essential for the resilience and sustainability of Paraguay’s financial sector.

14:00 - 14:20

Roadmap for Managing Climate Risk

Natalia Benavides, Senior Consultant, Futuris Consulting, Costa Rica.

14:20 - 14:40

Regulation and sustainability: BCP Resolution 31 and its positive impact on the financial system

Julio Cristaldo, Manager of Analysis and Regulation of the Superintendency of Banks (SIB), Paraguay.

14:40 - 15:20

Panel discussion: Climate risk implementation in Paraguay: regulatory, environmental and market vision

Panelists: Julio Cristaldo, Manager of Analysis and Regulation of the Superintendency of Banks (SIB), Paraguay; Lilian Portillo, Director of Strategic Planning of the Ministry of Environment and Sustainable Development (MADES), Paraguay; Natalia Benavides, Senior Consultant, Futuris Consulting, Costa Rica. Moderator: Cristina Paredes, Senior Investment Officer for the Financial Sector in Southern Cone countries, Inter-American Investment Corporation (IDB Invest), Paraguay.

15:20 - 15:30

Questions and Answers

15:30 - 15:50

Coffee Break

Financial inclusion is key to equitable and sustainable development, strengthening the social commitment of the financial sector.

15:50 - 16:10

The Sustainable Finance Roundtable: articulating the financial sector toward sustainability and inclusion

Diego Galeano, Vice President of the Sustainable Finance Roundtable of Paraguay (MFS).

16:10 - 16:50

Panel discussion: Value creation from financial institutions

Panelists: Carlos María Florentín Benítez, Strategic Planning & Innovation Manager, Bancop, Paraguay; César Vargas, General Manager of Banco Nacional de Fomento (BNF), Paraguay; María Belén Rodríguez, Sustainability Specialist, Banco Basa, Paraguay. Moderator: Darío Colmán, former Member of the MFS Board, Paraguay.

16:50 - 17:00

Questions and Answers

17:00 - 17:10

Day 2 Summary

Member of the MFS.

17:10 - 17:20

Closing remarks and acknowledgements

Miguel Ríos, General Manager of the Sustainable Finance Roundtable of Paraguay (MFS).

17:20 - 18:20

Toast and networking

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