Certified Climate Bonds: the role of Approved Verifiers in Latin America
The transition to a low-carbon economy is gaining momentum, and green bonds play a critical role in financing sustainable projects worldwide. Under the Climate Bonds Standard and Certification Scheme, Approved Verifiers like Pacific Corporate Sustainability Latam (PCS) increase the integrity and credibility of green issuances and entities. Working with issuers of green bonds in Latin America, their work ensures that funds are allocated to projects that deliver genuine environmental benefits, from renewable energy to sustainable transport and beyond. PCS have conducted 12 verifications under the Climate Bonds Standard since 2020 with a total issuance amount of USD0.5bn in the Energy, Forestry and Low Carbon Trasport in several Latin American countries (Peru, Bolivia, Panama, Dominican Republic, Costa Rica).
The Climate Bonds Standard is a globally recognised framework that provides investors with confidence that their investments are contributing to climate solutions. Approved Verifiers play a key role in this process by rigorously assessing bond issuances, assets or entities against the Climate Bonds Standard and Sector Criteria.
PCS: Leading by Example
PCS has demonstrated exceptional commitment to promoting Climate Bonds Certification in Latin America. Their efforts have made them a trusted partner for issuers in the region, and their work serves as an example for other verifiers to follow. By supporting Climate Bonds Certification, verifiers can help scale the green finance market and ensure that more projects and assets meet the highest standards of environmental integrity. This approach highlights the added value of Certification as a tool for issuers to demonstrate their commitment to robust, science-based climate action.
Latest Certified issuances in Latin America supported by PCS
The success of green bond issuances in Latin America is a testament to the growing potential for sustainable finance in the region. Here are some recent examples of Certified issuances verified by PCS:
- Banco de Desarrollo Productivo – Sociedad Anonima Mixta (Bolivia): BDP-SAM’s green bond issuance marks a significant milestone for Bolivia’s sustainable finance market, being the first of its kind in the country. The proceeds are dedicated to financing projects in solar energy and energy efficiency, aligning with the country’s commitment to climate action and sustainable development. Read more here.
- BICSA Factoring, S.A. (Panama): BICSA Factoring, a subsidiary of Banco Internacional de Costa Rica, recently issued a green bond under its Rotative Corporate Bond Program, raising funds for projects in solar energy and transport. This issuance underscores BICSA’s commitment to sustainability and its role in driving green finance in Panama. Read more here.
Join the Movement
The success of issuers like BDP-SAM, BICSA Factoring and the other 10 companies verified by PCS under the Climate Bonds Standard since 2020, demonstrating the growing potential for sustainable finance in Latin America and the Caribbean. As more organisations recognise the value of Climate Bonds Certification, we look forward to seeing even more impactful projects in the region.
Through the efforts of Approved Verifiers like PCS, the Climate Bonds Standard is helping to drive the green finance revolution and create a sustainable future for generations to come.
Interested in becoming an Approved Verifier or learning more about the Climate Bonds Standard and Certification Scheme? Contact our team at certification@climatebonds.net
