The Risk Classification and Investment Limits Commission (CCRyLI) has approved the issuance of sustainable bonds, marking a significant advancement for the Dominican economy with potential large-scale social impacts. The Superintendency of Pensions (SIPEN) announced that resolution No. 265 allows pension funds to invest in the Sustainable Bond Issuance Program of Banco de Ahorro y Crédito Fondesa, S.A. (BANFONDESA), valued at RD$500 million.
Francisco A. Torres, Superintendent of Pensions, highlighted that this initiative will enable pension funds to invest in projects that create new jobs and support micro, small, and medium enterprises (MSMEs), women-led businesses, education, and green initiatives. “This investment alternative reaffirms SIPEN’s commitment to promoting responsible economic growth while addressing climate change and fostering a more equitable society,” Torres stated.
The sustainable bonds will finance social projects, renewable energy, green infrastructure, and pollution prevention. Torres expressed hope that this financial instrument will evolve to generate tangible benefits for both pension fund members and the broader community, reinforcing the Dominican Republic’s commitment to the United Nations Sustainable Development Goals (SDGs) and promoting a low-carbon economy.
