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[null,"Prepared By:","Contributors:"]
[null,"Facio & Cañas"]
[]
[]
[]
["ESG Latin America & the Caribbean Guide 2024 | Charting Sustainable Futures"]
[]
["Report Generated: 11/19/2025"]
[]
["View your report results on next tab"]

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["Question","Costa Rica"]
["Social"]
["ESG Regulation related to stakeholder well-being and social impact."," Laws/regulations concerning stakeholder well-being and social impact include: \n \n Law for the Regulation of Telecommuting and its Reforms Recent changes to this law now state that workers will enjoy the right to disconnect outside of their work hours to promote work-life balance in general. \n \n The scope of the application of this law is State. "]
["ESG Regulation concerning non-discrimination."," Laws/regulations concerning non-discrimination include: \n \n Labor Code One of the most important changes regarding social sustainability is the inclusion of a non–discrimination provision for organizations in the Labor Code . This provision reaches the recruitment process and the employment relation itself. \n \n The scope of the application of this law is State. "]
["ESG Regulation pertaining to the prevention of modern slavery."," Laws/regulations concerning the prevention of modern slavery include: \n \n Law against Human Trafficking and Creation of the National Coalition Against Illicit Migrant Smuggling and Human Trafficking (CONATT) The purpose of this law is to promote public policies to combat human trafficking, promote the necessary regulation to strengthen the punishment of human trafficking and its consequences, define a specific framework to assist the victims and promote and facilitate national and international cooperation around the issue of human trafficking. \n \n The scope of the application of this law is State. "]
["ESG Regulation regarding Diversity, Equity, and Inclusion - DEI."," Laws/regulations concerning Diversity, Equity, and Inclusion include: \n \n Labor Code One of the most important changes regarding social sustainability is the inclusion of a non – discrimination provision for organizations in the Labor Code. \n \n This law aims to establish measures to promote the equality of women in different areas of society such as politics, business, education, and sexual violence, among others. \n An additional change in the Labor Code involves the creation of a paternity leave of 2 days per week for the first 4 weeks after birth, previously non-existent in our country, as well as other leave permits for workers in particular conditions such as adoption or death of the mother. The maternity leave protection concerning dismissal will extend to other types of beneficiaries according to the law. \n \n \n \n \n Law for the Promotion and Equality of Women This law aims to establish measures to promote the equality of women in different areas of society such as politics, business, education, and sexual violence, among others. \n Rules of Law for the Promotion of Work Opportunities of People 45 and above The reform of the rules reaffirms the non – discrimination prohibition of the Labor Code Reform , particularly concerning workplace adjustments and information access to promote continuity in the position. These changes will be duly enforced through inspection on behalf of the assigned national entity. \n \n The scope of the application of these laws is State. "]
["Regulation on ESG-linked compensation.","Not applicable.\n"]
["ESG Regulation for the protection of vulnerable or minority communities."," Laws/regulations concerning the protection of vulnerable or minority communities include:  \n \n Law of Equal Opportunities for People with Disabilities a) To serve as a tool for people with disabilities to achieve their maximum development, and full social participation, as well as the exercise of the rights and duties established in our legal system. b) To guarantee equal opportunities for the Costa Rican population in areas such as health, education, work, family life, recreation, sports, culture, and all other established areas. c) To eliminate any type of discrimination against people with disabilities. d) To establish the legal and material foundations that allow Costa Rican society to adopt the necessary measures for equal opportunities and non-discrimination of people with disabilities. \n Constitutional Chamber Resolution 2018-012782 The entry into force of same-sex marriage in Costa Rica in 2020 means changes for companies regarding workers' pension and termination rights. \n \n The scope of the application of these laws is State. "]
["ESG Regulation for economic development of vulnerable or minority communities or groups."," Laws/regulations concerning the economic development of vulnerable or minority communities or groups include:  \n \n Small and Medium Enterprises Strengthening Law The purpose of this Law is to create a regulatory framework that promotes an integrated strategic system for long-term development, which allows for the productive development of small and medium enterprises, and positions this sector as a protagonist, whose dynamism contributes to the process of economic and social development of the country, through the generation of employment and the improvement of productive conditions and access to wealth. \n Special Regulation for the Promotion of SMEs in the Purchase of Goods and Services on behalf of the Administration This regulation aims to provide guidelines and create mechanisms that ensure the participation of SMEs in the acquisition of goods and services carried out by the Administration. \n Law for the Promotion of Social Equality for Women The reform introduced in 2019 states the right for women to earn the same amount as men, for equal work, in the private and public sectors. Objective and justified possible salary differences include capabilities, qualifications, responsibility, productivity or others. \n Law of Equal Opportunities for People with Disabilities this law has the following objectives: a) Serve as a tool for people with disabilities to achieve their maximum development, and full social participation, as well as the exercise of the rights and duties established in our legal system. b) Guarantee equal opportunities for the Costa Rican population in areas such as health, education, employment, family life, recreation, sports, culture, and all other established areas. c) Eliminate any type of discrimination against people with disabilities. d) Establish the legal and material foundations that allow Costa Rican society to adopt necessary measures for equal opportunities and non-discrimination of people with disabilities. \n \n The scope of the application of these laws is State. "]
["Regulation on Personal Data Protection, concerning data usage transparency, limits on data usage to prevent discrimination issues, and corporate digital responsibility."," Laws/regulations concerning Personal Data Protection include:  \n \n Law on the Protection of Individuals with regard to the Processing of their Personal Data and its Rules This law is of public order and aims to guarantee any person, regardless of their nationality, residence, or domicile, the respect for their fundamental rights, specifically, their right to informational self-determination regarding their private life or activity, and other personality rights, as well as the defense of their freedom and equality regarding the automated or manual processing of data related to their person or property. \n \n The scope of the application of this law is State. "]
["Environmental"]
["ESG Regulation related to climate change prevention or mitigation, specifically concerning carbon footprint or pollution measurement, decarbonization strategies, and/or mandates and strategies to achieve local carbon neutrality commitments"," Laws/regulations concerning climate change prevention or mitigation include: \n \n Management System to Demonstrate Carbon Neutrality. Requirements The national standard 'Management System to Demonstrate Carbon Neutrality. Requirements INTE 12-01-06:2011 are officially established with this provision. \n \n The scope of the application of this law is State. "]
["ESG Regulation regarding energy transition (requirements or promotion and use of new second-generation renewable energy sources such as solar, wind, tidal, H2, geothermal, among others).\n"," Laws/regulations concerning energy transition include:  \n \n Paris Agreement The international convention aimed at limiting global warming, ensuring mitigation and adaptation towards the effects of climate change, financing, technology transfer and accountability. \n Law for the Regulation of the Rational Use of Energy and its Rules The purpose of this law is to consolidate the participation of the State in the promotion and gradual implementation of the energy rational use program. Likewise, it aims to establish mechanisms to achieve the efficient use of energy and to replace them when it is convenient for the country, considering environmental protection. \n Law of Incentives and Promotion for Electric Transportation The purpose of this law is to create the regulatory framework to regulate the promotion of electric transportation in the country and strengthen public policies to encourage its use within the public sector and among the general population. \n Framework Law on Concession for the Utilization of Hydraulic Forces for Hydroelectric Generation This Law establishes the regulatory framework for granting concessions for the utilization of hydraulic forces that can be obtained from the waters of the national territory's public domain. \n Law for the Promotion and Regulation of Distributed Energy Resources from Renewable Sources The purpose of this law is to establish the necessary conditions to promote and regulate, under a special regime of efficient, safe, and sustainable integration, activities related to the access, installation, connection, interaction, and control of distributed energy resources based on renewable energy sources. \n Rules for the Regulation of Liquid Biofuels and Their Blends The purpose of this regulation is to regulate the functions of the actors involved throughout the value chain of biofuels and the requirements for the storage, transport, and distribution of biofuels. \n Rules of Incentives for Electric Transportation This regulation aims to regulate the promotion of electric transportation and incentivize its use in the private and public sectors within the national territory. \n Decree of Incentives for Used Electric Vehicles This provision stimulates and strengthens the use of electric transportation in Costa Rica as an effective measure to reduce the country's fossil fuel consumption, environmental pollution, public health damages, and mobility expenses for new vehicles. Hence, the a need to extend some incentives to used vehicles. \n Decree for the Promotion of Sustainable Mobility in Central Government Institutions This Decree aims to promote sustainable mobility in the institutions of the Central Government Administration. \n \n The scope of the application of these laws is State. "]
["ESG Regulation concerning electricity markets, carbon markets, or similar.\n"," Laws/regulations concerning electricity markets, carbon markets, or similar include: \n \n Rules for the Regulation and Operation of the Domestic Carbon Market The purpose of this Regulation is to create and define the regulations and requirements for the operation of a domestic carbon market in Costa Rica. \n \n The scope of the application of this law is State. "]
["ESG Regulation in the realm of green or sustainable financing, including taxonomies, provisions for mandatory reporting of material financial information on environmental or social matters, as prerequisites for issuing thematic bonds (green, sustainable, social, etc.), mechanisms to promote sustainable financial products and services, etc.\n"," Laws/regulations concerning the realm of green or sustainable financing include: \n \n NIIF S1 and NIIF S2, adopted by the College of Accountants of Costa Rica NIIF S1 Regulations require companies to periodically disclose information on their governance, risk management, strategy and metrics and targets regarding sustainability. NIIF S2 requires companies to disclose aspects related to their environmental impact, for example, metrics on greenhouse gas emissions. \n \n The scope of the application of this law is State. "]
["ESG Regulation for preventing greenwashing.","Not applicable.\n"]
["Regulation on ESG Due Diligence applicable to value chains (MRV protocols to ensure the environmental integrity of products and services, etc.).\n"," Laws/regulations concerning ESG Due Diligence applicable to value chains include: \n \n Law of Public Procurement and its Rules This law states social and environmental sustainability as a basic principle to be taken into account in all procurement activities. \n \n The scope of the application of this law is State. "]
["Regulation in the field of circular economy.\n"," Laws/regulations concerning the field of circular economy include: \n \n Law to Combat Plastic Pollution and Protect the Environment This law declares any effort related to plans, programs, projects, strategies, and public or private initiatives for circular economy, prevention, reduction, reuse, valorization, treatment, disposal, and education on the substitution and elimination of single-use plastic pollution, as well as productive reconversion initiatives, conservation, sustainable use, and research for the substitution, reduction, and elimination of single-use plastic of public interest. It also prohibits the sale and the free delivery of plastic straws and bags. It establishes specific requisites for the sale of plastic bottles in national territory. \n \n The scope of the application of this law is State. "]
["Governance"]
["ESG Regulation regarding the integration of the board of directors, board of trustees, or management body of the company (minimum participation/representation of women or minority groups, guidelines on the composition of board members with expertise in ESG matters, etc.).\n","Not applicable.\n"]
["Regulation on fiduciary responsibility and administrators' roles in environmental and social risk management (standards or interpretations regarding the scope of fiduciary responsibility or administrator's duty concerning the company's social purpose, based on its typology).\n"," Laws/regulations concerning fiduciary responsibility and administrators' roles in environmental and social risk management include: \n \n Code of Commerce, art. 189 This article aims to establish liability for administrators in case they do not comply with their duty of diligence, loyalty and the general responsible management of the company. This liability will not be actionable when the administrators are acting in compliance with the Shareholders Meeting. Despite the existence of this norm, there are no known cases where it has come into force in relation to ESG topics. \n \n The scope of the application of this law is State. "]
["ESG Regulation concerning corporate purpose.\n","Not applicable.\n"]
["Regulation on types of Benefit and Collective Interest Companies (certifications like B Corps, specific regulations for BIC companies).\n","Not applicable.\n"]
["ESG Regulation regarding supply chains from the perspective of ESG risk governance.\n"," Laws/regulations concerning supply chains from the perspective of ESG risk governance include: \n \n Law of Public Procurement This law states social and environmental sustainability as a basic principle to be taken into account in all procurement activities. \n \n The scope of the application of this law is State. "]
["ESG Regulation in the context of M&A (ESG due diligence).\n","Not applicable.\n"]
["ESG Regulation related to Corporate Digital Responsibility.\n","Not applicable.\n"]
["Disclosure"]
["Specific mandates related to national alignment with specific reporting standards."," Laws/regulations concerning national alignment with specific reporting standards include: \n \n National Social Responsibility Policy The goal of this policy is to promote social responsibility among public and private companies and organizations so that good practices emerge and become widespread while involving and raising awareness among the population about its importance. \n \n The scope of the application of this law is State. "]
["Standards regarding the scope and frequency of such reports."," Laws/regulations concerning the scope and frequency of such reports include: \n \n Decree on Governance for the Implementation and Monitoring of Costa Rica's National Social Responsibility Policy This decree aims to establish a structure for the implementation and monitoring of the National Social Responsibility Policy. \n \n The scope of the application of this law is State. "]