Materialidad, métricas y gobernanza en los reportes ESG: Un estudio en el sector financiero latinoamericano

In recent years, sustainability has evolved from an abstract ideal to a guiding principle in global governance, with relevance in the Latin American financial sector. This sector, due to its ability to mobilize capital, plays a key role in the transition toward fairer and more sustainable economies, directly relating to SDG 12 to promote responsible practices. For this reason, this research seeks to analyze, in a situated and rigorous manner, the dynamics, tensions, and particularities that characterize ESG reporting in the Latin American financial sector, identifying progress, gaps, and institutional challenges. Methodologically, a qualitative and exploratory approach was adopted, based on a documentary review and content analysis of secondary sources. The main result reveals that, while significant progress has been made in the adoption of international standards and the development of proprietary taxonomies, challenges persist related to data availability and quality, the effective integration of ESG criteria into financial strategy, and institutional consolidation. In conclusion, the study highlights that the effectiveness of ESG reporting depends as much on the quality of the information as on institutional commitment and stakeholder engagement. It is necessary to strengthen governance, transparency, and regional coordination to advance toward genuine financial sustainability in Latin America.