América Latina & Caribe: Análise do Mercado de Finanças Sustentáveis 2021

The sustainable finance market in Latin America and the Caribbean grew significantly between 2019 and 2021, with total VSS emissions reaching USD 48.6 billion by June 2021. Chile, Brazil, and Mexico dominate the market, accounting for 77% of all VSS emissions. Green bonds remain the largest segment (USD 30.2 billion), while social and sustainability bonds have seen rapid growth, particularly during the Covid-19 pandemic. Energy is the most funded sector, though transport and land use are significant. The report also highlights the emergence of sustainability-linked bonds (SLBs) and the ongoing development of national green taxonomies in countries like Chile, Colombia, and Mexico.

• The total volume of Green, Social, and Sustainability (VSS) debt issued in Latin America and the Caribbean reached USD 48.6 billion by the end of the first half of 2021, with 246 transactions from 132 issuers across 14 countries.
• Chile, Brazil, and Mexico are the dominant markets in the region, collectively representing 77% of all VSS emissions. Chile leads with USD 17.8 billion, followed by Brazil with USD 11.7 billion and Mexico with USD 7.8 billion.
• Green bonds are the largest component of the sustainable finance market in the region, totaling USD 30.2 billion in cumulative emissions as of June 2021, representing 62% of the market.
• Energy is the most financed sector in the LAC region, accounting for 44% (USD 13.2 billion) of cumulative green bond emissions. Transport is the second most funded category at 28%.
• Social and sustainability bonds grew rapidly, totaling USD 18.3 billion in cumulative emissions from 2016 to the first half of 2021, driven largely by government responses to the Covid-19 pandemic.
• Sustainability-Linked Bonds (SLBs) have become a significant instrument in the region, with USD 10 billion issued by the end of the first half of 2021, predominantly by corporate issuers in Brazil, Mexico, and Chile.
• The US Dollar remains the primary currency for sustainable emissions, accounting for 60% of green bonds by value, although there is a growing trend toward local currency emissions, particularly the Brazilian Real (BRL).
• Several countries in the region are developing national green taxonomies to standardize eligible activities, including Chile, Colombia, Mexico, and the Dominican Republic.
• External evaluation is widespread in the LAC market, with over 88% of the total value of emissions receiving some form of external review, such as Second Party Opinions (SPOs) or Climate Bonds Standard certifications.

APA

Souza, L., & Tukiainen, K. (2021). América Latina & Caribe: Análise do Mercado de Finanças Sustentáveis 2021. Climate Bonds Initiative. https://www.climatebonds.net/files/documents/publications/cbi_lac_2020_pt_02d_0.pdf

Chicago

Souza, Leisa, and Krista Tukiainen. América Latina & Caribe: Análise do Mercado de Finanças Sustentáveis 2021. Climate Bonds Initiative, 2021. https://www.climatebonds.net/files/documents/publications/cbi_lac_2020_pt_02d_0.pdf.

Wikipedia

{{cite report |last1=Souza |first1=Leisa |last2=Tukiainen |first2=Krista |title=América Latina & Caribe: Análise do Mercado de Finanças Sustentáveis 2021 |publisher=Climate Bonds Initiative |date=September 2021 |url=https://www.climatebonds.net/files/documents/publications/cbi_lac_2020_pt_02d_0.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{souza2021amrica, author = {Souza, Leisa and Tukiainen, Krista}, title = {{América Latina \& Caribe: Análise do Mercado de Finanças Sustentáveis 2021}}, institution = {Climate Bonds Initiative}, year = {2021}, month = sep, url = {https://www.climatebonds.net/files/documents/publications/cbi_lac_2020_pt_02d_0.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }