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On 14 November 2023, through Resolution 385/2023 of the Ministry of Environment and Sustainable Development, the National Strategy for the Use of Carbon Markets (ENUMeC) was approved.
The ENUMeC aims to promote the implementation of carbon markets and the development of projects that contribute to the mitigation and adaptation to climate change in Argentina, in line with the international climate commitments undertaken by Argentina (under the Paris Agreement, the United Nations Framework Convention on Climate Change (UNFCCC) and the Kyoto Protocol).

Federal Decree No. 11,786/2023 was published on 21 November 2023, establishing the National Policy for Quilombola Territorial and Environmental Management (PNGTAQ). The policy aims to, among others, support and promote territorial and environmental management practices of quilombola communities, strengthen the territorial and environmental rights of these communities, and promote the implementation of public policies in an integrated manner and the conservation and sustainable use of biodiversity.

On 30 November 2023, the Argentine Central Bank issued Communication “A” 7901, which introduces amendments to the regime for foreign exchange dealers, including limits for the sale of foreign currency to entities authorized to operate in foreign exchange and to related customers, as well as new obligations for foreign exchange dealers.

On 30 November 2023, the Central Bank of Argentina issued Communication “A” 7905, extending the effective date of certain modifications to the National Payments System related to immediate debit and the interoperability of credit card payments through Quick Response codes.

Inclusion and diversity are key factors today. As gender, racial, and ethnicity pay gaps have been slow to narrow, governments in Latin America have introduced more requirements to further reduce these differences.
In this quick overview, the Employment & Compensation group presents recent trends in pay equity in Latin America, highlighting critical issues to consider for your day-to-day decision-making.

On 6 November 2023, State Law No. 17,832 of 1 November 2023 was published in the Official Gazette of the State of Sao Paulo, creating the “Consolidation of the State’s Consumer Protection Laws,” which aims to unify the main laws that protect consumer rights in the state, bringing them together in a single document to facilitate legislative consultation.

Following Administrative Decision No. 641/2021 on “Minimum information security requirements for the national public sector,” the AAIP approved its information security policy. The purposes of the policy are to protect the information resources of the AAIP and the technological tools used for their processing; ensure the confidentiality, integrity, availability, legality and reliability of information, and strengthen the adequate implementation of security measures, identifying available resources.

Following the release of the inaugural standards of the International Sustainability Standards Board (ISSB) — IFRS S1 and IFRS S2 — the Securities and Exchange Commission of Brazil (CVM) released the first delivery of what it calls the CVM’s Sustainable Finance Action Plan: CVM Resolution 193, which deals with the preparation and disclosure by publicly traded companies, securitization companies and investment funds of financial information reports related to sustainability.

By means of Resolution No. 198/2023, published in the official gazette on 18 October 2023, the Agency of Access to Public Information (AAIP) approved the model contractual clauses included in the Implementation Guide of Model Contractual Clauses for International Personal Data Transfers of the Ibero-American Data Protection Network (MCC and IADPN, respectively).