Taking care of the environment is an issue that is gaining more and more prominence in all areas of society, including the financial market. Thus, new investment alternatives have emerged to meet the demand. Green bonds are a good example of this movement.
The issuance of green bonds appears as an option for companies to access the resources of large international and domestic investors in order to raise funds for sustainable projects. This fixed income option has attracted a lot of attention in recent times, and some companies stand out in their placement.
With the aim of recognizing their role, Initiative Climate Bonds rewards leadership, compliance with best practices, and innovation in green and sustainable finances through the award: The Green Market Pioneer of the Climate Bonds Awards, in its seventh edition, has awarded the 2021 Green Market Pioneer to CMI Energy, one of the Business Units of CMI Capital led by Juan Luis Bosch as Chairman of the Corporación Multi Inversiones (CMI) business group.
“This recognition fills us with satisfaction and allows us to reaffirm our commitment to the continuous growth and generation of impactful investments that lead to the sustainable development of the countries and communities where we operate. Investing in renewable energy is, without a doubt, investing in integral sustainability. Therefore, it is essential to promote a reliable, affordable and decarbonized energy system to continue contributing to the social, economic and environmental growth of the countries,” said Enrique Crespo, CEO of CMI Capital.
CMI Energy is dedicated to the development, design, execution, operation, and commercialization of electric power generation projects with renewable resources in the Central American region. This Business Unit is among the top three renewable energy producers in the region.
This positioning has allowed it to maintain a generation of more than 800 MW with projects in Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, and the Dominican Republic. In addition, CMI Energy leads the generation of energy from renewable sources, with hydro, wind and solar technologies.
This recognition marks the largest successful placement of green bonds in the international market in the history of Central America and the Caribbean, worth US$700 million. At the same time, CMI Energy closed a US$300 million syndicated loan to refinance all of its project finance debt, which has allowed the corporation to consolidate its strengths as a group of business excellence in continuous growth, with vast experience in operating sustainable businesses in the region.
The greatest challenge for green bonds to gain greater scale at a global level is related to knowledge; that is, to bring more companies and investors into contact with this initiative, especially in emerging countries. For this reason, CMI Capital’s commitment to sustainability stands out even more, as its initiatives seek to promote this knowledge, in addition to people’s well-being and safety in the countries where it operates.