Tuesday, 20 December 2022 16:32

América Móvil issued its first sustainable bond for US$24 billion

Written by Evelyn Alas

América Móvil placed its first sustainable bond in the mexican stock market, as part of an issuance of more than 24 billion pesos in four tranches, of which 21.7 billion pesos are earmarked to finance environmental and high social impact projects.

To commemorate the success of the placement, the company was invited to ring the opening bell on the Mexican Stock Exchange (BMV) last friday.

The sustainable bond will allow the company to align its business strategy with a sustainable vision, consistent with the company's purpose of making a better world possible.

Through the sustainable bond, resources can be allocated to two of the pillars with the greatest impact on the company's strategy, namely, caring for the planet and promoting connectivity, which is the greatest mechanism of inclusion for society.

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In environmental matters, part of the bond's resources will help finance projects consistent with our emissions reduction strategy, such as the migration to renewable energies, equipment modernization and energy efficiency, with the aim of reducing our direct emissions by more than 50% by 2030.

América Móvil will also support its users in reducing their environmental footprint through digital solutions.

We will continue to accelerate digital inclusion, and the bond proceeds will also be used for a comprehensive strategy to provide Internet access in marginalized communities, promote the use of information technologies in the most vulnerable groups of society, and help these groups capitalize on the full benefits of connectivity by providing digital skills, digital education, and job training to contribute to their development.

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Unlike other instruments, in the case of sustainable bonds, the use of resources must be linked to the financing or refinancing of specific environmental and digital divide reduction projects. Every year a third party audits that the resources obtained through the bond are actually being used for the committed projects.

América Móvil has a sustainable development strategy that, for the third consecutive year, resulted in its inclusion in the Dow Jones Sustainability Indexes, as well as improvements in its sustainability ratings.

This progress is a reflection of the daily efforts made by the different areas and subsidiaries of América Móvil to align its operations with best practices and promote the creation of shared value.

 

Translated by: A.M