We can celebrate. The seed of sustainable financial issues has sprouted in Mexico, and the continued generation of strategies to finance projects based on sustainability criteria is now a reality. Let’s look at Toyota’s example from yesterday.
On Thursday morning, BBVA Bank announced that it has granted a $4.5 billion “green” loan to Toyota Financial Services Mexico to finance the acquisition of 8,600 hybrid cars by end customers who are seeking them. bulk. This will affect the reduction of 9,266 tonnes of CO2 in the atmosphere annually.
It is clear that both these types of debt, as well as the issuance of perpetual bonds, are setting the tone for financing in Mexico. Moreover, the demand for trained personnel so that it can be integrated in the country is already such that BVA, mary ariza, the so-called Chief Sustainability Officer began a second call a few days ago for his acceleration program. It is an ambitious program that seeks to train professionals to achieve proper compliance with social, environmental and corporate governance factors. Many institutions support it, such as HSBC, Afore Sura, Aleática, etc.
Issuance of green bonds is already a reality. Some states have taken advantage of issuing these bonds to meet local infrastructure and urban needs. This summer, the government of the state of Mexico issued a permanent bond worth $3 billion over 15 years that would serve to finance a number of projects, including the Naucalpan cable car, connecting Cuatro Caminos Mexiport to an area called Minas de San Martín. connects to. ,
Only the government of Mexico City had issued a similar bond years earlier. A few days ago Moody’s agency reported that perpetual bonds are an ideal mechanism for its reactivation, given the decline in public works in the states.
The BBVA said yesterday that companies in the industrial, transportation, pharmaceutical, energy and food sectors have brought it into business by providing green loans for up to $16.25 billion between January 2021 and August 2022. In turn, Toyota Financial Services ensures that it is at the forefront of hybrid cars financing in the country with a total of 38 thousand 670 hybrid vehicles financed so far.
Ajusco’s television station is preparing to begin its legal defense with the applicable law regarding bonuses for Dlls. $400 million that The Bank of New York Mellon wants to mature in advance. The case is strengthened by the lack of legal backing of bondholders for Azteca, of which Cyrus Capital Partners, LP and Contrarian Capital Management stand out.
by Carlos Mota