After three years in the market, the local green and sustainable bond issuance has reached $843 million (Co$3 billion), revealed Asobancaria. Sustainable construction, energy efficiency, renewable energy and cleaner production are the most demanded projects for these bonds. Yet, experts call for more agile operations as the initial target for 2030 was $16 billion (Co$ 57 billion).
Despite the COVID-19 pandemic, Grupo Argos's concession company, Odinsa, finished 2020 with operation revenues at $205 million (Co$ 730,000 million) and an Ebitda close to $112 million (Co$ 400,000 million). As part of its sustainability strategy, Odinsa also planted more than 119,000 trees in its road concession projects last year.
As of December 2020, Colombia reported 1,473,295 micro, small and medium enterprises, of which 62% recorded financial hardships, according to Colombia Fintech. In light of this, Colombia's largest bank, Bancolombia, announced its plan to allocate $ 3.7 billion (Co$ 13.5 billion) into a credit portfolio to support SMEs' financial needs specifically.
Despite pursuing renewable energy targets to wind down fossil fuel extraction, strife-torn Colombia reaffirms that fossil fuel production is crucial to its economic development. In a recent statement, Minister for Mines and Energy Diego Mesa declared that the extraction of thermal coal was an important driver of Colombia’s economy. The minister stated that coal mining was responsible for 120,000 jobs and generates 85% of all mining revenues earned by the central government.
Mineral exploration company, Cordoba Minerals Corp, resumed the pre-Feasibility study work for the Alacrán project after a police operation undertaken against local illegal mining activities in the area. The Company is currently operating three (3) drill rigs, and a fourth drill rig is expected to resume work following maintenance later this week. Both police and military personnel are present with the Company's employees and contractors.