Banco Davivienda's $50 million biodiversity bond was the first-of-its-kind in the Colombian capital markets. Issued in April 2025 alongside the International Finance Corporation, the four-year bond aims to focus on projects that protect, conserve or restore nature.

This includes biodiversity conservation, sustainable agriculture, integrated water management, sustainable energy and the circular economy. A portion of the bond's proceeds also go towards restoring mangroves in the Colombian Pacific.

The development of the bond required the creation of a biodiversity financing framework, which set out six categories, 48 eligible activities, technical benchmarks, eligibility criteria and a methodology for measuring the impact of financed projects.

A second-party opinion by S&P Global Ratings awarded the bond a 'Medium Green' result, which confirms the technical robustness of the framework and its commitment to biodiversity.

It claims this is the second biodiversity bond in the world.