According to a statement from the BID, the project financing program in Latin America and the Caribbean included:
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- 1 billion dollars in sustainability bonds
- 424 million in social bonds
- 186 million in green bonds
Among these instruments are the first bond of its kind in Mexico and the first blue bond (for projects related to the conservation of marine ecosystems) in the region.
The resources were directed to 54 projects, with emphasis on socioeconomic advancement and training (799 million), renewable energy (387 million) and job creation (257 million).
These types of initiatives have exploded in recent years and global investments with environmental, social and governance (ESG) factors “they should increase to 50 billion dollars by 2025, from approximately 35 billion dollars in 2020”, they calculate.
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Global commitments
“In Latin America and the Caribbean, green, social and sustainable bonds doubled in two years, with a market size of 48,6 billion dollars”, mainly due to the general targets of decarbonisation long-term framework of the Paris Agreement, adds the statement.
"We are withpromeencouraged to invest in sustainability”, guarantees James Scriven, general manager of IDB Invest, mentioned in the note.
The investments had an impact on development: more than 2,5 billion tons of emissions reductions, 570.959 small and medium-sized enterprises (SMEs) financed, 5,3 million megawatt-hours (MWh) of renewable energy generated and 413.551 loans disbursed to SMEs run by women.
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With AFP
