Thesis ANÁLISIS DEL MERCADO DE BONOS VERDES Y SOCIALES EN CHILE. EVALUACIÓN FINANCIERA, AMBIENTAL Y SOCIAL.
Date
2021-10
Authors
FLORES FLORES, ROBINSON ALEXANDER
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Abstract
La idea de llevar a cabo una investigación profunda del Mercado de Bonos Verdes y Sociales en Chile nace de la importancia que tiene el generar conciencia en la sociedad sobre las medidas que toman tanto las entidades públicas como privadas para contrarrestar los efectos del cambio climático. En este Mercado el objetivo es que todos ganen, los emisores emitiendo deuda a tasas de interés bajas, los inversores obteniendo retornos fijos y diversificación de sus portafolios, el medioambiente con menores emisiones de gases de efecto invernadero y la sociedad al ver mejorada su calidad de vida.
El Mercado de Bonos Verdes y Sociales fue inaugurado en Chile por parte de la Bolsa de Comercio de Santiago en el año 2018. Desde entonces, empresas privadas pertenecientes a diversos sectores de la economía como Aguas Andinas, Hortifrut, Esval, CMPC, Sonda, ILC, Banco Estado y Caja los Héroes, se han sumado a la emisión de deuda con el fin de aportar hacia una economía más sustentable, baja en emisiones de carbono. La investigación se centra en evaluar financiera, ambiental y socialmente los Bonos emitidos por Aguas Andinas, Hortifrut y el Gobierno de Chile, los cuales al ser emitidos entre los años 2018 y 2019, sus proyectos han sido implementados y se encuentran operativos a la fecha.
Una vez que han sido evaluados, se procederá a tomar una serie de conclusiones en cuanto a si en Chile ganan todos los agentes que participan en el Mercado, si se respetan los estándares internacionales y si los proyectos son medioambiental y socialmente responsables.
The idea of carrying out an in-depth investigation of the Green and Social Bond Market in Chile was born from the importance of generating awareness in society about the measures taken by both public and private entities to counteract the effects of climate change. The objective of this market is that everyone wins, issuers by issuing debt at low interest rates, investors by obtaining fixed returns and diversification of their portfolios, the environment by reducing greenhouse gas emissions, and society by improving its quality of life. The Green and Social Bond Market was inaugurated in Chile by the Santiago Stock Exchange in 2018. Since then, private companies belonging to various sectors of the economy such as Aguas Andinas, Hortifrut, Esval, CMPC, Sonda, ILC, Banco Estado and Caja los Héroes, have joined the debt issuance in order to contribute towards a more sustainable economy, low in carbon emissions. The research focuses on evaluating financially, environmentally and socially the Bonds issued by Aguas Andinas, Hortifrut and the Government of Chile, which being issued between 2018 and 2019, their projects have been implemented and are operational to date. Once they have been evaluated, a series of conclusions will be drawn as to whether in Chile all the agents participating in the market win, whether international standards are respected and whether the projects are environmentally and socially responsible.
The idea of carrying out an in-depth investigation of the Green and Social Bond Market in Chile was born from the importance of generating awareness in society about the measures taken by both public and private entities to counteract the effects of climate change. The objective of this market is that everyone wins, issuers by issuing debt at low interest rates, investors by obtaining fixed returns and diversification of their portfolios, the environment by reducing greenhouse gas emissions, and society by improving its quality of life. The Green and Social Bond Market was inaugurated in Chile by the Santiago Stock Exchange in 2018. Since then, private companies belonging to various sectors of the economy such as Aguas Andinas, Hortifrut, Esval, CMPC, Sonda, ILC, Banco Estado and Caja los Héroes, have joined the debt issuance in order to contribute towards a more sustainable economy, low in carbon emissions. The research focuses on evaluating financially, environmentally and socially the Bonds issued by Aguas Andinas, Hortifrut and the Government of Chile, which being issued between 2018 and 2019, their projects have been implemented and are operational to date. Once they have been evaluated, a series of conclusions will be drawn as to whether in Chile all the agents participating in the market win, whether international standards are respected and whether the projects are environmentally and socially responsible.
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Keywords
ANÁLISIS DE MERCADO , BONOS VERDES , CAMBIO CLIMATICO