Banco Guayaquil issues for the first time green bonds for up to $80 million

Banco Guayaquil carried out its first issuance of green bonds, long-term obligations up to an amount of $80 million, through the Guayaquil Stock Exchange (BVG), to finance environmental projects, as reported by the bank this Wednesday, December 25. January, through a statement.

He explained that all the resources will be used to finance or refinance energy efficiency projects, renewable energy, sustainable construction and sustainable management of natural resources.

How green bonds work for a sustainable financial system

“Banco Guayaquil reaffirms its commitment to the environment in accordance with its principles of responsible banking, aligned with the Sustainable Development Goals (SDG) and international agreements. In this way, it promotes the best practices among its clients, for the benefit of current and future generations,” said Ángelo Caputi, executive president of Banco Guayaquil, who added that the institution plans to serve clients interested in the funds during the first year.

Although it is the first time it has issued green bonds, the bank has a sustainability strategy in project financing. One of their initiatives was the issuance of social bonds, with which they served clients affected by the pandemic and companies led by women.

“Now, with the issuance of green bonds, we reaffirm our sustainability strategy focused on the environment,” said Julio Mackliff, vice president of Banco Guayaquil.

For his part, Ricardo Rivadeneira, president of the BVG board of directors, highlighted the incursion into the issuance of green bonds to contribute to the SDGs of Banco Guayaquil and other private companies.

“Companies today have more social and sustainable awareness. We applaud Banco Guayaquil’s decision to carry out a green bond issue to finance sustainable projects, which will generate a chain effect because more actors join, in this case Banco Guayaquil clients”, highlighted Rivadeneira. (YO)