Cementos Argos and Bancolombia signed a financing agreement for $ 135,000 million over three years, in which the interest rate is linked to the performance of three indicators of sustainability.
The conditions include specific net CO2 emissions, specific water consumption in the cement business and number of suppliers evaluated for sustainability in the last three years.
According to the company, if the goals are met, Argos could achieve significant savings over the life of the loan.
María Isabel Echeverri, Legal and Sustainability Vice President of Argos, assured that “this transaction also constitutes a seal of confidence for our investors and other stakeholders, who every day have higher expectations regarding environmental, social and governance aspects” .
Cristina Arrastía, Vice President of Business of Bancolombia, stressed that “since the launch of our financing line tied to compliance with sustainability indicators, in April of this year, we have disbursed more than $ 1 billion to companies that, like Cementos Argos on this occasion, are willing to mobilize in achieving of best environmental, social and governance practices, which translates into a better quality of life for the communities in which they are present. “