Attracting sustainable investment for peace

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Fecha de publicación del contenido

21 de Diciembre de 2022
By Carmen Caballero President of ProColombia By the objectives set by the National Government, ProColombia is committed to attracting investment for social equity, strengthening human capital, and sustainable development

That is an investment that, from a regional perspective, contributes to the growth of the popular economy, the reduction of inequality and gender equity, and, in conclusion, to the construction of total peace and the positioning of Colombia as a world power of life. The above is consolidated with implementing our Investment for Sustainable Development strategy, establishing a roadmap to reduce Colombia as a sustainable business center in Latin America.

Colombia was one of 71 countries that submitted updated Nationally Determined Contributions (NDCs) to the Paris Agreement ahead of the deadline, reinforcing its commitment to urgent climate action. Our country represents only about 0.6% of global emissions; its NDC is one of the most ambitious in the Latin America and Caribbean region and is much more aligned to achieve carbon neutrality by 2050.

The Colombian NDC not only paves the way for significant climate benefits but also contributes to the country's environmental and community-friendly business development.

Under the leadership of President Gustavo Petro, and in coordination with the Ministry of Trade, Industry, and, Tourism, ProColombia is committed, in our role, to address the climate crisis that involves vital sectors of the local economy with the highest emissions and need for adaptation: agriculture and rural development; commerce, industry, tourism; transportation; housing; energy and mining; health and social protection, among others, which require the adoption of new practices and models of integrated and environmentally friendly development.

The energy transition is a clear example of the National Government's commitment to promoting the rise of increasingly green industry and clean mobility. Colombia already has legislation allowing it to have one of the region's largest fleets of public transportation and electric cargo. For this reason, ProColombia's investment attraction strategy for sustainable development seeks to attract projects with Environmental, Social, and Governance components, along with impact investments that generate financial returns and, at the same time, significantly benefit the most vulnerable populations and regions, as well as the most pressing social and environmental needs.

An example of this type of investment is that of the Swiss fund Fair Capital, which with the support of ProColombia, has made investments in two cooperatives and one company in the agro-industrial sector, promoting the production and export of products such as specialty coffees. Both cooperatives are Fairtrade certified, guaranteeing high environmental and social standards.

Another relevant example is the Dutch fund Triple Jump, which invested US$ 20 million in the regional Andes Impact I fund for Colombia and Peru, which works with small and medium-sized enterprises focused on inclusive agribusiness, social technology, and light manufacturing, with gender equity and social impact components in the most affected areas of both markets.

Blended Finance is another form of investment that we attract from ProColombia, and that contributes significantly to the fulfillment of sustainable objectives by blending different sources of financing, including FDI, public resources, international cooperation, and other non-reimbursable resources.

This will leverage more financing and generate a more significant impact by agreeing on a common objective among various actors and reducing risks inherent to the market.

We are promoting international projects that contribute to offsetting emissions with a clear objective of achieving a zero-deforestation rate. We are also promoting investment opportunities in energy transition, circular economy, sustainable tourism, and bioeconomy, as well as generating operations from Colombia, third markets in the Americas can be served.

We aim to attract sustainable, impactful, and total investments to Colombia, reduce poverty, contribute to economic development, and enable sustainable growth inclusive of regions and communities.

We are proud to be among the ten largest developing economies that receive foreign direct investment. We are determined to continue to be part of this select group because we see FDI as a pillar for Colombia's competitiveness and sustainable development, thanks to its contributions to technology and knowledge transfer, generation of skilled jobs, boosting exports, and positioning the country as an outstanding tourist and business location in the region