On Tuesday 07 December, the “BNV Sustainability Awards” event was held, where the Costa Rican stock market industry reaffirmed its commitment to sustainable development and the Bolsa Nacional de Valores (BNV) awarded the initiatives implemented during the year 2021. César Restrepo, CEO of the BNV, indicated that the Costa Rican market is setting a precedent. “Together, we are contributing to transparency and corporate governance, accountability, gender equality, the opening of investment opportunities with a sustainable approach and care for the environment”.

In the category of thematic issues, the recognition went to:

• Banco Popular y de Desarrollo Comunal for issuing the first publicly offered green bond in the local market, which is intended to refinance green credit lines, specifically related to renewable energy, energy efficiency and water management projects.

• The Instituto Costarricense de Electricidad (ICE), for being the first utility company in the country to place a publicly offered green bond and the first in the world to receive certification from the Climate Bond Initiative in the hydropower category. The purpose of the issue is to raise funds to refinance a portion of the existing debt related to the construction of the Reventazón hydroelectric power plant.

• BN Sociedad Administradora de Fondos de Inversión S.A. for creating the first publicly offered investment fund labelled as green. The resources raised by the fund will be used for the construction of a green building (the fund is pending placement).

In the gender equality category, recognition for signing the WEPS women’s empowerment principles issued by UNWomen goes to:

• Banco Popular y de Desarrollo Comunal. Popular Sociedad de Fondos de Inversión. Mutual Valores Puesto de Bolsa S.A.

In addition, the following entities are recognised for achieving gender parity.

• INS Valores Puesto de Bolsa S.A. on its Board of Directors.
• And Refinadora Costarricense de Petróleo (RECOPE) in its Board of Directors and Senior Management.

In the following link you can find the transmission of the event: https://www.youtube.com/watch?v=BChHEGARS1Q&t=1334s