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SERIES 27STUDIES AND PERSPECTIVES ECLAC OFFICEINWASHINGTON, D.C. Mapping sustainabilityin Latin Americaand the Caribbean Sectoral and energy transition insightsfrom sustainable bonds, 2014–2024 Helvia VellosoDaniel E. PerrottiRudá Sobreira Thank you for your interest inthis ECLAC publication Please register if you would like to receive information on our editorialproducts and activities. When you register, you may specify your particularareas of interest and you will gain access to our products in other formats. Click on the link below for our social networks andother channels for accessing our publications: https://bit.ly/m/CEPAL Mapping sustainabilityin Latin Americaand the Caribbean Sectoral and energy transition insightsfrom sustainable bonds, 2014–2024 Helvia VellosoDaniel E. PerrottiRudá Sobreira This document was prepared by Helvia Velloso, Officer in Charge of the Economic Commission for Latin America and theCaribbean(ECLAC) office in Washington, D.C., Daniel E. Perrotti, Research Assistant and Rudá Sobreira, intern.The authors wish to thank Silvia Eugenia Felipe Calle, Hubert H. Humphrey Fellow, for her input on the energy sectorduring her time with the office. The United Nations and the countries it represents assume no responsibility for the content of links to external sites inthis publication. Mention of any firm names and commercial products or services does not imply endorsement by the United Nations orthe countries it represents. The views expressed in this document, which has been reproduced without formal editing, are those of the authors and donot necessarily reflect the views of the Organization or the countries it represents. United Nations publicationISSN: 1728-5437 (electronic version)ISSN: 1727-9909 (print version)LC/TS.2025/76LC/WAS/TS.2025/5Distribution: LCopyright © United Nations, 2025All rights reservedPrinted at United Nations, SantiagoS.2500564[E] This publication should be cited as: Velloso, H., Perrotti, D.E. and Sobreira, R. (2025). Mapping sustainability in Latin America andthe Caribbean: sectoral and energy transition insights from sustainable bonds, 2014–2024,Studies and Perspectives series-ECLAC Officein Washington, D.C.(27) (LC/TS.2025/76-LC/WAS/TS.2025/5). Economic Commission for Latin America and the Caribbean. Applications for authorization to reproduce this work in whole or in part should be sent to the Economic Commission for Latin America andthe Caribbean (ECLAC), Documents and Publications Division, publicaciones.cepal@un.org. Member States and their governmentalinstitutions may reproduce this work without prior authorization, but are requested to mention the source and to inform ECLAC ofsuch reproduction. Contents Abstract............................................................................................................................................... 5Introduction......................................................................................................................................... 7I.Development challenges and financing......................................................................................9II.LAC sustainable bonds, 2014–2024: sectoral insights............................................................... 11A.Sectoral growth trends ..................................................................................................... 13B.Type of issuer by sector..................................................................................................... 14C.Type of instruments by sector........................................................................................... 15D.Key messages ................................................................................................................... 17III.Empirical insights on sustainable bonds and energy transition in LAC....................................19A.Literature review............................................................................................................... 19B.Methodology ....................................................................................................................20C.Descriptive analysis........................................................................................................... 21D.Models and estimations ....................................................................................................24E.Key messages and policy reflections .................................................................................25IV.Conclusion.................................................................................................................................. 27Bibliography......................................................................................................................................29Annex................................................................................................................................................. 31Se