Suriname has emerged as the Caribbean’s pioneer in sustainable banking with the formal introduction of the Sustainable Finance Protocol, marking a transformative moment for the nation’s financial industry. This groundbreaking initiative—forged through collaboration between the Surinamese Bankers Association (SBV) and IDB Invest—represents the first comprehensive agreement uniting all commercial banks under shared sustainability commitments.
The protocol establishes Suriname as the inaugural Caribbean nation to implement sector-wide banking reforms oriented toward environmental, social, and governance (ESG) principles. The framework mandates systematic integration of sustainability considerations into banking operations and credit facilities, creating standardized approaches for developing green financial products, managing environmental risks, and expanding financing access for businesses and citizens.
Eighteen months of technical negotiations preceded the agreement, with IDB Invest experts facilitating working sessions focused on ESG risk management, sustainable innovation, and inclusive finance. Participating institutions include every major commercial bank operating in Suriname: Godobank, Finabank, SPSB, Trustbank Amanah, Southern Commercial Bank, VCB Bank, Hakrinbank, De Surinaamsche Bank, Surichange Bank, Republic Bank, and NOB.
The official signing ceremony occurred on February 20th in Paramaribo, attended by bank executives, Suriname’s Minister of Oil, Gas and Environment Patrick Brunings, SBV Director Henri Henar, and representatives from the Central Bank of Suriname and IDB Invest. The agreement establishes a permanent collaborative platform connecting banks, regulators, and stakeholders to align financial sector activities with national development priorities and international sustainability goals.
A dedicated working group will oversee implementation and monitor adherence to the protocol’s sustainability principles across the banking sector. This coordinated effort aims to build a more resilient financial system while promoting investments that balance economic development with environmental protection, positioning Suriname’s banking industry at the forefront of sustainable finance in the Caribbean region.