Ecuador

ASOBANCA initiates the development of a Green Taxonomy for the Banking Sector, and of an online tool to facilitate the use of the sector guidelines.

ASOBANCA and its member banks sign the Sustainable Finance Protocol 2.0, which includes new strategies to address climate change and social inequalities. Several public institutions also signed the new Protocol. including the Central Bank of Ecuador as Witness of Honor, and several Development Finance Institutions as Strategic Interested Parties.

Second green bond ($50 million) and second blue bond ($80 million) issued in Ecuador

The Banking Superintendency of Ecuador issues the Control Rules for Entities in the Public and Private Financial Sectors on the Assessment and Management of Environmental and Social Risks

ASOBANCA publishes 22 additional Sector Guidelines for environmental and social (E&S) risk management, reaching a total of 34 Sector Guidelines. The Guidelines include considerations of climate-related risks.

Total green credit reaches $525 million

The first sustainable bond ($50 million), the first gender bond ($100 million), and the first blue bond ($78 million) are issued in Ecuador

ASOBANCA develops a web portal for banks to enter their information regarding policies, practices, programs, and other financial data, and the system will rank them based on their sustainability finance maturity, compared with local banks and regional banks.

ASOBANCA and its member banks celebrate the 5th anniversary of the Sustainable Finance Protocol. The banks sign a document renewing their commitment to sustainable finance.

The Ministry of Environment and the Ministry of Finance publish the National Climate Financing Strategy of Ecuador

Central Bank of Ecuador (BCE) joins SBFN

Total green credit reaches $312 million

ASOBANCA publishes 12 Sector Guidelines to enhance banks' environmental and social (E&S) risks and mitigation strategies

First social bond issued in Ecuador ($20 million)

The Sustainable Finance Initiative is launched, promoting the National Pact for Sustainable Finance in Ecuador

The Quito Stock Exchange issues the Guide for Green and Social Bonds for Ecuador

First green bond issued by an Ecuadorian bank in the country ($150 million)

Nine Ecuadorian banks sign the UNEP-FI's Principles for Responsible Banking

Environmental and Social Management System training deployed among several banks, with training opportunities repeated each year to keep raising the bar

ASOBANCA establishes the Sustainable Finance Committee to foster industry actions towards sustainability

ASOBANCA joins SBFN

ASOBANCA issues the Sustainable Finance Protocol for Ecuador