With the issuance and placement of 350,000 million pesos in green bonds, Bancolombia became the first private financial institution in the country and Latin America to venture into this segment.
The resources obtained in this operation will be used to finance projects that contribute to combating climate change, such as renewable energy initiatives, sustainable construction, clean production and energy efficiency, among others.
The entire issue, equivalent to about $ 115 million, was acquired by the World Bank’s International Finance Corporation (IFC).
«This issue is a step in line with our commitment to sustainability, not only because we seek to reduce the direct impact on the environment, but also because we encourage clients and allies to do so through strategic support and products that enable them to implement Renewable energy and sustainable construction, «said Juan Carlos Mora, president of the bank.
According to the entity, the green bond issue was structured under the green bond principles methodology, which was certified by Deloitte and was in charge of Bancolombia de Inversión Bancolombia.
For its part, Carlos Leiria Pinto, head of the IFC for the Andean region, said that the issue made by Bancolombia «represents the first impulse to develop the green bond market in Colombia. By investing in these roles, IFC is demonstrating its commitment to addressing climate change and setting the course for others to do the same. »
The World Bank’s financial arm has made global emissions of green bonds in various currencies for a total value of $ 5.6 billion.