Colombia. The Bancolombia Group successfully completed its first sustainable bond issue, which was acquired entirely by IDB Invest. These resources will be used to finance projects that the entity has accompanied since its structuring and that follow the international standards established in the Sustainable Bond Principles.
The resources of the issue, for an amount of $ 657,000 million (about US $ 200 thousand), will be distributed among 26 projects located in Magdalena, Antioquia, Valle del Cauca, Nariño, Bolívar, Santander, Cundinamarca and Tolima. Of the total projects, 18 of them are classified as environmental or green, focused on sustainable construction, energy efficiency and cleaner production. The remaining 8 are categorized as social, focused on basic infrastructure, social and social housing.
These are some benefits of the projects that will be financed with this issue:
- Thanks to the financing of social projects, among which there are seven sustainable social housing projects, 5,448 families will benefit.
- Through a basic sanitation project, 10,500 people from stratum 1 and 2 in Atlántico will have access to drinking water.
- With the financing of green projects, 15 of them of sustainable construction, it is expected to have an estimated saving in water and energy of 30% in a year.
- With the accompaniment to two energy efficiency projects, it is expected to have an average energy saving of 30% per year in the companies where it was implemented.
- Thanks to a cleaner production initiative, it is expected to have a saving of 20% in energy and water consumption per year.
IDB Invest, in addition to underwriting the bond, supported with the design of the conceptual framework that defines the use that can be given to the funds. Also with the independent review by the verification company Vigeo Eiris, an independent third party specialized in these operations.
Source: Bancolombia.
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