ESG means using Environmental, Social and Governance factors to evaluate companies and countries on how far advanced they are with sustainability. Belize presently does not have any specific statute on competition law, nor specific legislation for companies on how they are performing across the drivers of sustainability and ESG matters. However, Belize does have legislation addressing pillars of ESG matters on a national level which companies may use as guidance in their business conduct and corporate governance; for instance: legislation addressing environmental protection, environmental conservation, protection of human rights, management of water and other resources; legislation protecting fair labor practices, legislation addressing trade disputes, employee relations, working conditions, including use of child labor, the National Gender Policy; and legislation such as the Economic Development Act to facilitate and bolster Belize’s business investment climate and economic development. Companies can use such legislation as guidance to meet ESG objectives such as reducing energy consumption, diversifying the talent pool, attracting customers with sustainable products, and working to achieve a certain set of environmental goals.

The Protected Disclosures (“Whistleblowers’”) Bill, 2021, once enacted into the laws of Belize, would be a landmark piece of legislation that could yield grant dividends in the fight against corruption that would enable whistleblowers to confidently and securely “blow the whistle” on corruption and “improper conduct” in both private and public sectors. The Belize Companies Bill, once enacted into the laws of Belize seeks to repeal, replace and consolidate the International Business Companies Act, Chapter 270 of the Substantive Laws of Belize, Revised Edition 2020 and the Companies Act, Chapter 250 of the Substantive Laws of Belize, Revised Edition 2020; and to further establish and facilitate a modernized framework for the registration, operation and regulation of companies.

No. 

No.

Yes. 

Belize only has legislation addressing pillars of ESG matters on a national level which companies may use as guidance for their corporate policies. Belize through its statutory bodies, and various authorities of government monitors ESG matters by holding investments and trade summits, surveys, censuses, forums and meetings with stakeholders in order to gather data with respect to ESG matters and then in turn make policies, policy decisions or legislation on such basis.

Furthermore, The Belize Trade and Investment Development Service ("BELTRAIDE") a statutory body of the Government of Belize was created to focus on Micro, Small and Medium Enterprise ("MSME") development, innovation, entrepreneurship so as to provide investors with trade and investment information to facilitate their business processes.

The government of Belize provides an enabling environment for private enterprise. Legislation has been enacted to allow for a range of incentives for those looking to invest such as a friendly tax regime with low corporate tax rates, fiscal incentive programs and concessions, commercial free zones, designated processing areas, gaming control casino programs, qualified retired person programs, and the diaspora retiree incentive programs.

Legislation is in place on a national level addressing environmental conservation, health and safety; consumer protection such as the Sales of Goods Act, and corporate social responsibility such as:

• Legislation to support and protect labor, diversity, and human rights;
• Anti-trafficking legislation; and
• Legislation to Promote equality and eliminate discrimination regarding employment.

Legislation to protect the environmental impacts of business and fair operating practices including anti-corruption measures. Legislation is in place with respect to the governance of companies, logistics, and defined process for running a business or organization inclusive of:

• Board of directors and its makeup;
• management structure of a company;
• providing accounting transparency; and
• shareholder rights.

Yes, one of the pillars of ESG/sustainability that can be found in Belize on a national level is the environmental footprint, protection from carbon emissions, air, and water pollution. The Ministry of Sustainable Development, Climate Change, and Disaster Risk Management ("MSDCCDRM") recently launched the National Climate Change Policy, Strategy and Master Plan, Updated Nationally Determined Contribution, National Climate MRV System, Low Emissions Development Strategy and Action Plan for Belize, Climate Change Finance Strategy, and Climate Change Gender Action Plan. Belize’s Nationally Determined Contribution ("NDC") is guided by its commitment to strategically transition to low-carbon development while strengthening its resilience to the effects of climate change. The NDC for Belize is consistent with the overall goal of the Growth and Sustainable Development Strategy ("GSDS") which encompasses medium-term economic development, poverty reduction, and longer-term sustainable development. The GSDS is the nation’s primary planning document and outlines four critical success factors for the development of our country so as to ensure a better quality of life. Belize has developed several policy frameworks to respond to these issues which include:

1. Horizon 2010-2030,
2. National Energy Policy Framework,
3. Sustainable Energy Action Plan 2014-2033,
4. National Climate Resilience Investment Plan, and
5. Growth and Sustainable Development Strategy which incorporates the following elements:

• Synergies with the Growth and Sustainable Development Strategy;
• Implementing the National Roadmap to achieve a Low Carbon Development Strategy;
• A proposed Monitoring, Reporting and Verification System, encompassing greenhouse gas inventory, sustainable development impacts, NAMA monitoring reporting and verification framework, adaptation M&E framework and climate finance tracking system; and
• Supporting initiatives on stakeholder engagement and capacity building.

No.