Consorcio ARA seeks to issue green bonds for 1,500 million pesos in the Mexican Stock Exchange (BMV), with which it will debut in this financial market that is growing in Mexico.

The objective of the placement will be to finance projects that comply with environmental and social criteria based on the principles of Green Bonds and Sustainable Bonds of the International Capital Markets Association (ICMA), an international organization in charge of the proper functioning of international debt markets.

Consorcio Ara is a 44-year-old home developer. It has built and sold more than 374 thousand houses inhabited by approximately 1 million 495 thousand Mexicans and is present in 16 states with 43 developments in operation.

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The company has proposed to reduce carbon dioxide (CO2) emissions by 25.0%, on average, due to the development of projects eligible for refinancing in the next 12 months.

In parallel, it expects to reduce greenhouse gas (GHG) emissions per home by 5.5% on average from its eligible projects to be refinanced in the next 12 months.

The projects that ARA will fund with the resources it receives from the sale of green bonds will provide a better quality of life to people who have an income level of between two and up to 10 minimum monthly wages by incorporating technologies or processes that promote care for the environment. aligned to green building standards.

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Promoting inclusion, commerce, education and access to green areas will be other benefits of this initiative.

Green bonds are debt or fixed income instruments that emerged in the world in 2010, however, in Mexico the first was issued in 2016.

The objective of this market is to finance projects that help mitigate the negative impact of climate change.

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