Latin America is one of the world's most socioeconomically complicated regions, with its considerable potential not infrequently interrupted by various forms of social and political unrest. Devex reported that this was the prominent focus of discussion at the World Economic Forum on Latin America, which took place March 19 in Sao Paulo. The event brought together heads of business, economists and nonprofit leaders to discuss the region's future, according to Devex.
The idea of business efforts serving aims beyond revenue received considerable attention at the event, specifically in terms of environmental sustainability and related concepts. One forum contributor, Buenos Aires Senator Esteban Bullrich, stated that he and fellow Argentine lawmakers wanted to introduce legislation offering benefits to corporations that devote resources toward initiatives for the public good.
"The purpose of the law is to create a framework and incentives to have other measures of business success, not only profits," Bullrich said, according to the news provider.
Political corruption emerged as another prominent topic of the forum, as such crimes have dominated Latin America for much of the past several decades. It motivated groups like Transparency International and Tech for Integrity - a collaboration between the former group and the World Economic Forum, Citi and the Inter-American Development Bank - to announce the beginnings of several new initiatives. These programs would ideally use technology to track the evidence of financial corruption among politicians.
As noted by The New York Times, those efforts, as well as the proposed expansion of the Pacific Alliance trade partnership between Mexico, Chile, Peru and Colombia, point to the possibility of greater unity among Central and South American nations.