Finanzauto SA BIC

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Sustainability Summary

  • This is an unclaimed profile. Finanzauto SA BIC has not joined Sustainability Tracker to verify their sustainability credentials. We gathered what we could from public sources.
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Finanzauto SA BIC Sustainability Profile

Sustainability Summary

  • This is an unclaimed profile. Finanzauto SA BIC has not joined Sustainability Tracker to verify their sustainability credentials. We gathered what we could from public sources.
Powered by Tracker AI BETA; there may be errors

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Certified B Corporation

Finanzauto S.A. BIC is a Colombian non-bank financial institution focused on vehicle financing, with more than 50 years in the automotive financing market. Its sustainability-related activity centres on financing micro, small and medium-sized enterprises, including self-employed workers, small carriers and entrepreneurs, and on expanding access to cleaner vehicles, hybrid and electric vehicles, and electromobility. The company changed its name in 2020 to incorporate the Collective Interest Benefit (BIC), with references to environmental protection, worker welfare and improved living conditions. Recent financing transactions have also supported ESG-focused projects and advisory work for female entrepreneurs and migrant populations.

About Finanzauto SA BIC

  • Status
  • Unverified
  • Employees
  • 100 - 500
  • Country
  • Colombia

Finanzauto SA BIC Services

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Finanzauto SA BIC offers top-tier certification services that enhance credibility and operational standards within the automotive financing industry in Colombia. With international certifications such as ISO 9001:2015 and Carbon Neutral ISO 14064-1:2018, businesses can trust in their sustainable and quality-focused processes to improve efficiency and reputation.

Serviceable Locations: Colombia

Finanzauto SA BIC Sustainability Actions

Financed electromobility portfolio

IDB Invest, ILX and Banco Latinoamericano de Comercio Exterior S.A. (Bladex) closed a financial package for Finanzauto S.A. BIC that will help expand its financing offer to micro, small and medium-sized companies (MSMEs) and electric vehicles in Colombia. Between 7% and 10% of the amount will be allocated to financing its electromobility portfolio.

Closed USD 20 million climate loan

On March 31, 2023, a responsAbility Investments AG managed climate fund closed a USD 20 million senior secured loan with Finanzauto S.A. The loan will support the company’s transition to an energy efficient fleet by financing hybrid and electric vehicles, contributing to Colombia’s GHG emissions reductions in the transport sector.

Developed green lending strategy

Together with the fund’s climate and investment teams, Finanzauto developed a green lending strategy aligned with the company’s business model focused on low CO2 emitting light-duty vehicles. The fund’s energy specialists and technical assistance facility will also support Finanzauto with finetuning its GHG accounting, promoting hybrid and EVs, and the implementation of a vehicle scrapping program.

Expanded ESG syndicated lending

Bladex and Finanzauto closed a dual-currency syndicated loan worth US$53 million and COP 60,000 million for Finanzauto. The proceeds will support MSMEs development and ESG-focused projects in Colombia, including access to cleaner vehicles, working capital, health, and education.

BIC name change in 2020

In 2020, Finanzauto changed its name to Finanzauto S.A. BIC to incorporate the Collective Interest Benefit (BIC) and become a strategic ally in the protection of the environment, the welfare of workers, and the improvement of living conditions of society in general.

Finanzauto SA BIC Sustainability Commitments

2050

Support net zero transition

The company’s financing activity is described in relation to Colombia’s pledge to achieving net zero emissions by 2050, including the decarbonisation of the transport sector.

2030

Promote EV adoption by 2030

Colombia aims to get 600,000 EVs on the road by 2030, and Finanzauto’s financing of hybrid and electric vehicles is linked to that transition.


What do our labels mean?

Certified B Corporation Logo

Certified B Corporation

About Finanzauto SA BIC

  • Status
  • Unverified
  • Employees
  • 100 - 500
  • Country
  • Colombia

Sustainable Development Goals

Finanzauto SA BIC is committed to advancing these Global Goals to promote prosperity for people & planet.

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