The company Bosques Amazónicos (BAM) issued its first sustainable bond certified by the Climate Bonds Initiative (CBI) for USD 45 million, becoming the first thematic issue to receive this certification in Peru.
BAM is a company whose purpose is to protect and restore the value of Amazonian ecosystems in order to mitigate the effects of climate change, conserve the biodiversity of the Amazon and contribute to the economic, social and environmental development of Peru. It has recently prepared a $45 million sustainable bond issue, which is part of its Framework for Sustainable Finance Instruments Issuance.
Pacific Corporate Sustainability (PCS), a Pacific Credit Rating (PCR) Group company, was commissioned to prepare a Sustainable Bond External Verification Report and to assess compliance with CBI’s Climate Bond Standard version 3.0 in order to certify the issuance.
The objective of the issue is to restore and/or conserve a total of 13,902 hectares of forest. This bond seeks to avoid the emission of 10 million tons of CO2 into the atmosphere and restore 2,969 hectares of forest in Ucayali, which will result in the capture of 600 thousand tons of C02. In addition, it is estimated that an average of 520 families in vulnerable situations will benefit.
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