The Colombian Stock Exchange (BVC) and the Global Green Growth Institute (GGGI) joined forces to promote sustainability in the capital market, through the Technical Assistance Program for Thematic Bonds. The objective of this initiative is to support Colombian issuers in both the public and private sectors, through technical support, capacity development and financing of the Second Party Opinion, a fundamental element in the issuance of this type of bond. This program will also be implemented in Peru and Paraguay.
(Integration of stock exchanges in Colombia, Chile and Peru would be ready in 2024).
This agreement will allow Colombian companies to develop capacities that strengthen their corporate strategy through the inclusion of sustainability in their financing sources, accessing a market where investors come together who make decisions based on ESG factorswhile promoting the creation of economic, social and environmental value.
Juan Pablo Córdoba, president of bvc, pointed out that until now “Thematic bonds have allowed Colombian companies to finance COP $5.8 billion through the capital market, resources that have been allocated to sustainable projects of energy transformation, social inclusion, climate adaptation and education, among others. Issuers and investors have shown their interest in being part of a conscious capital market, now we must motivate many more companies to join this change”.
(How beneficial it would be to merge the stock exchanges of Colombia, Chile and Peru).
Colombian stock exchange.
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GGGI is an implementing partner of the Green New Deal Fund or Korean Green New Deal Fundestablished by that Government in 2020 with a double objective: to promote the digital, green and human capital transformation of Korea, and to expand financial support and cooperation to developing countries to achieve the eradication of poverty, social inclusion, environmental sustainability and green economic growth.
The Assistance Program for the Issuance of Thematic Bonds, aimed at companies and interest groups, includes three components: capacity building and exchange of experiences at the regional level, technical assistance for the issuance of thematic bonds; and communication and dissemination to make visible the benefits of said bonds.
(Only 4 shares of the Colombian stock market are saved from the general fall).
With this alliance, the importance of the business sector for the fulfillment of the objectives of sustainable development is demonstrated, as well as its contribution to the goals established by the National Government, reaffirming the catalytic role of public securities markets in achieving the SDGs.
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