In February 2021, Logistics Plazaa company dedicated to the development of multi-client logistics parksbecame the first private company in Argentina to issue a Sustainable ON (Green and Social) that became a member of ByMA’s SVS Panel, considering in its investment project environmental and social criteria.
Now, almost four years after that first issue, the company took the lead again on sustainable financing: he presented his Sustainable Financing Framework.
It is about the first developed by a company in Argentina with the purpose of continuing to strengthen its role in that financing segment.
In the Sustainable Financing Framework The criteria are defined for the issuance of green, social and/or sustainable instruments. This tool provides transparency to investors and interest groups about the financing of projects that meet high standards of positive impact on the environmental and/or social axes.
The Framework is aligned with the Green, Social and Sustainable Bond Principles of the International Capital Markets Association (ICMA; International Capital Market Association).
It is also aligned with the Green Lending Principles (GLP; Green Loan Principles) and Social Lending Principles (SLP; Sustainable Loan Principles) published by the Loan Market Association (LMA; Loan Market Association).
The Framework was rated by FIX SCR (affiliate of Fitch Ratings) through the “Second Party Opinion” (SPO) methodology, obtaining the second highest score.
The categories of eligible projects contemplated in the Framework are three:
-Ecological Buildings: It is related to the adoption of environmental standards in the construction process of logistics warehouses, which allow savings in electricity consumption, water and CO2 emissions.
-Renewable Energy: generation of solar energy for common areas and logistics warehouses, contributing to decarbonization and reducing the carbon footprint of operations.
-Socioeconomic Advances and Empowerment: is related to the generation of inclusion opportunities for young populations (in the age range of 18 to 25 years) and/or women in activities related to the logistics sector.
The funds may be allocated to finance or refinance, in whole or in part, new or existing projects that meet the stipulated criteria in the green and/or social categories defined by the Framework.
In relation to the Sustainable Development Goals (SDGs), according to the eligible category, it is planned to contribute to SDGs 7 Affordable and non-polluting energy, 12 Responsible production and consumption and 13 Climate Action, in environmental terms. In social terms, with SDGs 5 Gender equality, 8 Decent work and economic growth and 10 Reduction of inequalities.
Sustainable financing and global good practices
“The development of the Sustainable Financing Framework represents a milestone for Plaza Logística. It is the result of joint work between the Finance and Sustainability teams and reinforces the commitment of align our actions with good practices at a global level in terms of sustainable financing. We believe that this Framework will allow us to move forward with greater agility in financing projects with positive impact and contribute to our sustainability commitments,” stated Maria Jimena Zibana, Sustainability Manager of Plaza Logística.
For his part, Nicolás Mesa, Financial Director of Plaza Logística explains that: “Once the projects have been selected, the corresponding amounts are assigned through mechanisms that guarantee the correct traceability of the use of the funds and their effective application, which will be done in a timely manner. reported to the National Securities Commission (CNV).”
And he adds: “A part of our next financing instruments they will follow this pathintegrating sustainability strategy with business growth“.
The company was a pioneer in Argentina by issuing a sustainable bond for the construction of Triple A quality logistics warehouses and the creation of jobs in the sector.
Logistics Plaza It has been present since 2017 in the local capital marketwith multiple NO emissions. It has also received financing from IDB Invest (formerly Inter-American Development Bank), US International Development Finance Corporation (formerly OPIC), and from the main banks with a presence in Argentina.
The company develops projects whose premise is support the future of logistics and promote the growth of e-commercedeploying quality infrastructure, generating employment, competitiveness, and adopting the most demanding sustainability standards.
Plaza Logística has multi-client parks located in Pacheco, Pilar, Tortugas, Esteban Echeverría, Mercado Central and CABA.
Source: Ambito
