Chile is strongly committed to climate action, environmental protection and sustainable growth. Reflecting this commitment, Chile is the first country in the Americas to issue Green Bonds. Green Bonds are a tool to channel investments towards green assets, contributing to further financial development and promoting national financial innovation that supports the country’s sustainable development path, low in carbon emissions, with strong climate resilience.
According to international best practice, Chile’s Green Bonds were structured in accordance with Chile’s Green Bond Framework. This document was prepared by the Ministry of Finance in coordination with other sectorial ministries and the support of the Inter-American Development Bank.
Considering Paris’ Agreement commitments, in 2020 Chile presented an update of its Nationally Determined Contributions (NDC). In this context and responding to its funding commitments, the Ministry of Finance, in coordination with the Ministry of the Environment, developed a Financial Strategy on Climate Change, which included the creation of the Public-Private Green Finance Table (Agreement, Declaration, Survey, Workshops to generate capacities), the research to generate data and analysis (Green Growth Opportunities for the Decarbonisation Goal for Chile), and the promotion of financial instruments to fund these green initiatives, such as Green Bonds. Other institutions of the financial sector have already contributed with its own strategies to face climate change (CMF).
Awards and Honors
The Public Debt Office has been recognized with several Awards and Honors for specific transactions, its public debt management strategy and innovations in the development of financial instruments, particularly Green Bonds issuances. Below is a list of the awards and recognitions related to these particular instruments:
- Most Impressive Latin American Green/SRI Debt Issuer, GlobalCapital Bond Awards 2021.
- Largest Emerging Market Certified Climate Bond in 2020, Climate Bonds Initiative Awards 2021.
- Green Finance 2019, The Banker.
- Green Bond of the Year-Sovereign, Environmental Finance Bond Award 2019.
- Financing, Netexplo Smart Cities Accelerator UNESCO 2019.
- Sovereign Issuer of the Year, LatinFinance Awards 2019.
- Best Public Debt Office/Sovereign Debt Management Office in Latin America, GlobalMarkets Awards 2019.
- Green Bond of the Year for Latin America, GlobalCapital Sustainable and Responsible Capital Markets Awards 2019.
- Recognition for Innovation in Sustainable Finance 2019, Spanish Observatory of Sustainable Financing.
Frequently Asked Questions on Green Bonds:
Green Bonds Documentation:
The following documentation is associated to the reopening of bonds Global USD-2032 and Global EUR-2031.
The following documentation is associated to the issuance of the bonds Global USD-2032, reopening of Global USD-2050, reopening of Global EUR-2031 and Global EUR-2040.
The following documentation is associated to the issuance of the bonds Global USD-2050 and Global EUR-2031.
- Chile's 2020 NDC Update
- Financial Strategy on Climate Change
- The Green Agreement
- Joint Declaration on Climate Change
- Survey "Risks and Opportunities Associated with Climate change for chile's Financial Sector"
- Green Growth Opportunities for the Decarbonization Goal for Chile
- CMF's Strategy Against Climate Change (Spanish only)
- Taxonomy Roadmap for Chile