Following the publication of its Sustainable Financing Framework in January 2022, Banco de Credito del Peru (BCP) carried out the first international green issue of the Peruvian banking system by issuing green bonds for US$30 million. Amundi, the French firm and the main asset manager in Europe, acquired 100% of the issue through its Amundi Planet – Emerging Green One fund. The funds from this issue will initially be used to finance production plant projects friendly to the environment.
Diego Cavero, CEO of BCP, explained that this operation is part of Credicorp’s sustainability strategy, which seeks to contribute to creating more sustainable and inclusive economies through the financial system.
“We are proud to be the first Peruvian bank to raise international funds to finance green projects. We are convinced that the financial system can foster the transition towards more environmentally sustainable business models and activities, which is why this issuance, without a doubt, constitutes a milestone”, stated the CEO of BCP.
The Amundi Planet Emerging Green One fund, managed by Amundi and launched in association with the International Finance Corporation (IFC), aims to invest in a diversified portfolio of green bonds, particularly those issued by financial institutions active in emerging markets. In this way, it seeks to promote and accelerate the development of the capital market in these economies while trying to achieve a positive environmental impact.
BCP’s Sustainable Financing Framework was designed following the guidelines of the International Capital Markets Association (ICMA), the Green Bond Principles 2021 (GBP), the Social Bond Principles 2021 (SBP) and the Green Loan Principles 2021 (LPG). It should be noted that BCP is the first bank in Latin America to receive a “strong” rating for its Sustainable Financing Framework, which defines the criteria used to determine the eligibility of sustainable projects and mentions the Bank’s commitment to provide transparent information on the use and impact of financing.
With this first green issue from BCP, Credicorp reaffirms its commitment to sustainability and will continue to work guided by its corporate purpose of improving lives by accelerating the changes that our countries need.
DATA
- BCP issued bonds for 30 million dollars, which were bought by Amundi, the largest French asset management firm in Europe
- The funds raised will initially be allocated to the development of environmentally friendly production plant projects.
