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Invest in green innovations in Colombia

Invest in 

green innovations 

 

The LAGreen Fund invested $10m in Banco de Bogotá, Colombia, $230m sustainable bond issuance. The bond was dedicated to promoting projects with positive environmental and social impact, while also strengthening the bank’s capital base.

Landscape lagreen

Measurable impact of the bond

65,390

Tons of waste avoided

7,850

Tons of waste recycled or reused

 

 

 

Selected figures from public bond reporting as at year end 2023 

Use of proceeds

city and trees

In the first Basel III subordinated thematic bond in Colombia, LAGreen’s investment is being channeled towards projects in renewable energy production, climate resilience, sustainable transport, water and energy efficiency, and circular-economy solutions.  

 

Purpose of the partnership between LAGreen and Banco de Bogotá 

The largest member of Grupo Aval, which has a broad presence in Central America, Banco de Bogotá has influence across the region. With a sustainability strategy already in place, this issuance helps fulfil its sustainability commitments and position the bank as a leader in this field. As such, the bank can spread best practices and help build the market for green finance in Colombia and Latin America. 

Impact of the partnership

crossroads
  • Supports regional renewable energy production, climate resilience, sustainable transport, water and energy efficiency, and circular economy solutions
  • Drives growth in green finance in Colombia and beyond, by demonstrating the commitment to sustainability of large financial institutions
  • Spreads reporting and sustainability best practices across the region
  • Incentivizes issuers to focus on environmental and social considerations 

 

Support beyond the investment

LAGreen’s advisory and capacity building service supported the bank with the preparation of its yearly sustainable bond impact reporting. 

LAGreen’s support though the issuance of the Sustainable Bond has been of great value for Banco de Bogotá to continue promoting sustainable financing in the country…

Diana Barón |Sustainable Finance Director at Banco de Bogotá

Impact Spotlight

waterfall mountain

One example of use of proceeds from this bond issuance is the improvement and optimization of a recycling plant in Tocancipá-Cundinamarca. Improvements include replacing components, and upgrading and adapting water systems, for the recovery and use of certain post-consumer plastics. This project will contribute to the region’s waste management by improving circular practices and avoid 2,682 CO2eq/year upon project completion.  

Fund information

The funds, sub-funds and securities described herein (or in any other linked or related website) are not being offered for sale to the public in the United States of America or in any other jurisdiction in which a public offer would be prohibited by applicable law. To the extent funds, sub-funds and securities described herein (or in any other linked or related website) are being offered in these jurisdictions (some of the funds, sub-funds and securities may not be offered in certain jurisdictions), they will only be offered by private placement to a limited number of qualified institutional investors in accordance with the applicable laws and regulations in these jurisdictions. Offers will only be made pursuant to a private placement memorandum approved by the funds. Institutional investors in these jurisdictions that wish to learn more about the funds, sub-funds and securities should contact the persons listed below for further inquiry.

Special notice as regards the European Fund for Southeast Europe, the Green for Growth Fund and the Latin American Green Bond Fund: In respect of the United States of America, Canada, Japan or Australia or any other jurisdiction in which the distribution, offer, sale, transfer or resale would be prohibited by applicable law, no investment in notes/shares or other instruments of these funds (or their respective sub-fund(s)) can be offered or made.

All funds are managed or advised (as the case may be) by Finance in Motion Asset Management S.à r.l., a Luxembourg-based Alternative Investment Fund Manager directly supervised by the Luxembourg regulator, the Commission de Surveillance du Secteur Financier (CSSF).

  • Finance in Motion Asset Management S.à r.l.
  • 68, Bd de la Pétrusse,
  • L-2320 Luxembourg