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🌊 Colombian Biodiversity Bond

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BBVA to issue first biodiversity bond in Colombia

What happened: BBVA Colombia plans to raise as much as $75 million in the sale of the first biodiversity bonds in the local market, a deal that is being arranged by the International Finance Corporation. 

Use of Funds: The bank will use the proceeds to finance projects for reforestation, mangrove conservation or restoration, climate-smart agriculture, and the restoration of wildlife habitats. Returns on investment will be linked to demonstrated improvement in biodiversity.

Gaining Prominence: Bonds incorporating biodiversity loss prevention and nature protection objectives now account for almost a third of all debt issued this year with an environmental, social and governance (ESG) label. In 2015, such bonds made up just 3 per cent of total issues. At this pace, the year’s total could come close to a record US$300 billion.

Who’s leading: Sovereigns and supranational institutions have spearheaded the development of biodiversity-related capital. The European Union and the World Bank were among the first to issue biodiversity bonds. They collectively account for around two-thirds of all biodiversity-related ESG debt issuance to date (IIF).

Why it matters for Nature: Colombia is the world’s most biodiverse country per square kilometre. It is home to 14 percent of known plant species in the world, only surpassed by Brazil; and close to 4,500 bird species. This represents one third of all bird species in the world, making it the country with the greatest bird diversity on the planet.

Why it matters for NatureTech: A boost for Monitoring, Reporting and Verification start-ups who can help bond issuers to quantify and monitor biodiversity gain or loss accurately. (Full story here)

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