A decade on from the 2007-08 global financial crisis, the majority of private banks have changed very little. Most remain solely concerned with maximising their returns, while sustainable or social goals remain subservient to this. For conventional economists, anything else remains an impossible or distant dream.
The Latin American country of Costa Rica has achieved the milestone of generating 100 per cent of its energy from renewable resources, with a combination of hydropower and geothermal for 75 days in a row, the the state-owned Costa Rican Electricity Institute (ICE) said.
Despite immense pressure by corporations that have sought to undermine it, Costa Rica's public energy and telecommunications company stands out as a model in terms of its coverage, efficiency, social inclusion and environmental sustainability.
An international seminar in Montevideo, co-organised by TNI and the Uruguayan government, shared the latest learning and innovation by state-owned enterprises across Latin America and affirmed their importance as instruments for economic and social development.