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Glossario

Orange bonds

Categoria — ESG

Orange bonds are financial instruments, debt securities issued to finance projects or industries classified as creative and/ or cultural, based on talent, intellectual property, connections, and cultural heritage as part of the implementation of the Orange economy policy. These types of bonds are typical mainly for Latin American countries.

The main goal of the Orange economy policy is to create a model for the development of society in which cultural diversity and creativity are the basis for the social and economic transformation of the country.

The activities financed by the orange bonds are divided into three groups and classified by economic activity:

1. Art and cultural heritage:

1.1 Fine arts (painting, sculpture, photography);

1.2 Performing arts (theater, dance, circus, opera);

1.3 Tourism and cultural heritage (festivals, natural parks, museums, archaeological sites);

1.4 Education.

2. Cultural industry:

2.1 Publishing house;

2.2 Audiovisual industry (radio, video, television);

2.3 Phonography (musical accompaniment).

3. Functional art:

3.1 Digital media (animation, video games, digital platforms);

3.2 Design (furniture, architecture, fashion, jewelry);

3.3 Advertising.

In total, 103 types of economic activities are suitable for this program.

The activities funded by these bonds (Bancoldex, FRN 29nov2021, COP (A36); Bancoldex, FRN 29nov2020, COP (D24)) are designed to ensure the sustainability of these industries.

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