The winner of this year's Green bond of the year –  local authority/municipality was awarded to Bogotá, Distrito Capital, for issuing the first international green bond by a Latin American municipality denominated in Colombian pesos.

The issuance, structured in Colombian pesos, reached an equivalent of USD 600 million (COP2.3 trillion). and was oversubscribed, with demand reaching 1.34 times the amount offered.

The bond is aligned with the International Capital Market Association (ICMA) Green Bond Principles and the Colombian Green Taxonomy, supported by a second-party opinion from S&P Global. The reference Framework was developed with the technical support from the European Union, under the Global Green Bond Initiative, through the Global Green Growth Institute (GGGI).

The International Finance Corporation (IFC, World Bank Group) and CAF – Development Bank of Latin America and the Caribbean participated as anchor investors, and 93.4% of the issuance was allocated to international investors.

Proceeds from the bond are financing clean mobility projects aimed at reducing congestion, shortening travel times, and avoiding more than 150,000 tonnes of carbon dioxide (CO₂) emissions annually. Projects include Bogotá Metro Line 2, the San Cristóbal and Potosí cable car lines, and the Calle 13 Bus Rapid Transit corridor.