{"id":5418,"date":"2023-01-27T14:00:12","date_gmt":"2023-01-27T17:00:12","guid":{"rendered":"https:\/\/artica.capital\/clairfield-pilulas\/voce-ja-ouviu-falar-dos-chamados-blue-bonds\/"},"modified":"2026-09-29T12:06:39","modified_gmt":"2026-09-29T15:06:39","slug":"voce-ja-ouviu-falar-dos-chamados-blue-bonds","status":"publish","type":"pilulas","link":"https:\/\/artica.capital\/en\/clairfield-pilulas\/voce-ja-ouviu-falar-dos-chamados-blue-bonds\/","title":{"rendered":"Have you ever heard of so-called blue bonds?"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Pr\u00e1ticas ESG vem ganhando for\u00e7a globalmente no mercado corporativo e se consolidou como fator importante no processo decis\u00f3rio de investidores. De acordo com estudo da IBM, o assunto est\u00e1 sendo tratado como prioridade m\u00e1xima por 48% dos CEOs brasileiros.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Especificando o tema para o mercado de cr\u00e9dito privado, est\u00e3o se multiplicando as linhas de financiamento com ofertas mais atrativas relacionadas a temas de mudan\u00e7as clim\u00e1ticas. Nesta dire\u00e7\u00e3o, recentemente, a BRK, uma das maiores empresas privadas de saneamento do Brasil, emitiu o primeiro blue bond nacional \u2013instrumentos de financiamento de projetos sustent\u00e1veis relacionados a causas mar\u00edtimas e oce\u00e2nicas.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Espera-se que os t\u00edtulos tem\u00e1ticos ESG ganhem cada vez mais espa\u00e7o nos pr\u00f3ximos anos com o desenvolvimento de diferentes teses e dada a alta demanda por estes produtos.<\/p>\n\n\n\n<!-- pilula-html v1 -->\n<style>\n.pil{--navy:#2d3a51;--blue:#4f6388;--light:#8599b9;--pale:#e8ebf1;--card:#d3d9e3;--red:#c0272d;--txt:#333;font-family:\"Merriweather Sans\",sans-serif;color:var(--txt);margin-top:40px}\n.pil *{box-sizing:border-box}\n.pil img{max-width:100%;height:auto;display:block}\n.pil-sec{margin:0 0 56px}\n.pil-sec h2{background:var(--navy);color:#fff;font-size:19px;line-height:1.35;font-weight:700;padding:16px 20px;border-radius:0 0 28px 0;margin:0 0 20px;text-wrap:balance}\n.pil-sub{font-size:14px;font-weight:700;color:var(--navy);border-bottom:2px solid var(--navy);padding-bottom:6px;margin:0 0 16px;display:flex;justify-content:space-between;gap:12px;align-items:flex-end}\n.pil-tag{color:var(--red);border-top:2px solid var(--red);border-bottom:2px solid var(--red);font-size:12px;padding:2px 8px;white-space:nowrap}\n.pil-unit{font-size:12px;font-style:italic;color:#999;font-weight:700}\n.pil-src{font-size:11px;color:#777;margin-top:14px;line-height:1.5}\n.pil-p{font-size:14px;line-height:1.6;margin:0 0 12px}\n.pil-note{display:flex;gap:12px;align-items:center;background:var(--pale);border:1.5px dashed var(--navy);border-radius:10px;padding:12px 16px;font-size:14px;line-height:1.55;margin-top:18px}\n.pil-note::before{content:\"\";flex:none;width:26px;height:26px;border-radius:50%;background:var(--navy) url(\"data:image\/svg+xml,%3Csvg xmlns='http:\/\/www.w3.org\/2000\/svg' viewBox='0 0 24 24' fill='none' stroke='white' stroke-width='1.8' stroke-linecap='round'%3E%3Cpath d='M9 18h6M10 21h4M12 3a6 6 0 0 0-3.5 10.9c.6.5 1 1.2 1 2.1h5c0-.9.4-1.6 1-2.1A6 6 0 0 0 12 3z'\/%3E%3C\/svg%3E\") center\/16px no-repeat}\n.pil-note.solid{border-style:solid;background:#fff;box-shadow:0 2px 6px rgba(0,0,0,.12)}\n.pil-note.solid::before{display:none}\n.pil-grid2{display:grid;grid-template-columns:1fr 1fr;gap:24px}\n.pil-grid2.wide-left{grid-template-columns:1.75fr 1fr}\n.pil-grid2.wide-right{grid-template-columns:1fr 1.75fr}\n.pil-grid3{display:grid;grid-template-columns:repeat(3,1fr);gap:20px}\n.pil-grid4{display:grid;grid-template-columns:repeat(4,1fr);gap:16px}\n.pil-grid5{display:grid;grid-template-columns:repeat(5,1fr);gap:12px}\n.pil-grid2>*,.pil-grid3>*,.pil-grid4>*,.pil-grid5>*{min-width:0}\n.pil-legend{font-size:12px;display:flex;gap:14px;justify-content:flex-end;flex-wrap:wrap;margin-bottom:6px}\n.pil-legend span{display:inline-flex;align-items:center;gap:6px}\n.pil-legend i{width:14px;height:10px;display:inline-block}\n\/* grafico de colunas: .pil-bars > div[style=height:%] > span (valor); 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essa foi a primeira emiss\u00e3o de um <i>blue bond<\/i> no Brasil e no setor privado na Am\u00e9rica Latina, e a primeira a mercado no segmento de saneamento no mundo\u201d<\/p><p style=\"margin:6px 0 0;text-align:right;font-size:13px;font-weight:700;color:var(--navy)\">Brazil Journal<\/p><\/div>\n  <div class=\"pil-note\"><span><b>A emiss\u00e3o teve overbooking de 1,6x e foi destaque na COP27<\/b><\/span><\/div>\n\n  <div class=\"pil-sub\" style=\"margin-top:32px\"><span>Mas o que s\u00e3o <i>blue bonds<\/i> e como funciona o mercado de t\u00edtulos tem\u00e1ticos ESG?<\/span><\/div>\n  <div class=\"pil-grid2\">\n    <div style=\"display:grid;gap:14px;align-content:start\">\n      <div class=\"pil-fact dark\"><b>T\u00edtulos tem\u00e1ticos ESG<\/b> s\u00e3o instrumentos financeiros com intuito de viabilizarem a capta\u00e7\u00e3o para financiamento de projetos e atividades econ\u00f4micas sustent\u00e1veis<\/div>\n      <div class=\"pil-fact\">O mercado ainda n\u00e3o \u00e9 regulado, mas os emissores s\u00e3o submetidos a revis\u00f5es e alinhamentos de metas por organiza\u00e7\u00f5es como ICMA<sup>(1)<\/sup> e CBI<sup>(2)<\/sup><\/div>\n      <div class=\"pil-fact\">Os mais conhecidos s\u00e3o os denominados \u201c<i>Green, Social, Sustainability Bonds<\/i>\u201d e \u201c<i>Sustainability-Linked Bonds<\/i>\u201d, ambos com objetivo de criar incentivos ESG<\/div>\n      <div class=\"pil-card tint\">Os t\u00edtulos \u201cverdes\u201d \u2013 ou <i>green bonds<\/i> \u2013 s\u00e3o pap\u00e9is de d\u00edvida emitidos especificamente para financiar projetos com benef\u00edcios ambientais<\/div>\n    <\/div>\n    <div>\n      <div class=\"pil-card\" style=\"border:1.5px solid var(--navy);text-align:center;font-size:14px\">Um dos sub-segmentos s\u00e3o os <b><i>blue bonds<\/i><\/b> &#8211; instrumentos de d\u00edvida com o objetivo de financiar <b>projetos mar\u00edtimos e oce\u00e2nicos<\/b> que tenham <b>impacto ambiental, clim\u00e1tico e econ\u00f4mico positivo<\/b><\/div>\n      <p class=\"pil-p\" style=\"margin-top:18px;color:var(--navy)\"><b>Por que focar nos oceanos?<\/b><\/p>\n      <div style=\"display:grid;gap:12px\">\n        <div class=\"pil-fact\">O Produto Marinho Bruto \u2013 equivalente ao PIB de um pa\u00eds \u2013 \u00e9, no m\u00ednimo, USD 2,5 trilh\u00f5es, sendo uma das dez maiores economias no mundo<\/div>\n        <div class=\"pil-fact\">Os oceanos representam 90% do espa\u00e7o habit\u00e1vel, \u00e9 fonte de renda e alimenta\u00e7\u00e3o para mais de 3 bilh\u00f5es de pessoas e fornece metade do oxig\u00eanio consumido<\/div>\n      <\/div>\n    <\/div>\n  <\/div>\n  <div class=\"pil-src\">(1) ICMA \u2013 International Capital Markets Association (2) Climate Bond Initiative<br>Fonte: Brazil Journal; Green Finance for Latin America and the Caribbean; B3; Reset; Nasdaq;<\/div>\n<\/section>\n\n<section class=\"pil-sec\">\n  <h2>A emiss\u00e3o e demanda por t\u00edtulos tem\u00e1ticos ESG vem crescendo desde 2014 e apresenta potencial ainda maior para os pr\u00f3ximos anos, com desenvolvimento de diferentes teses e cada vez mais demanda pelo mercado<\/h2>\n  <div class=\"pil-grid2\">\n    <div>\n      <div class=\"pil-sub\"><span>O mercado de <i>green bonds<\/i> apresentou acelerado crescimento de ofertas&#8230;<\/span><\/div>\n      <div style=\"display:flex;justify-content:space-between;align-items:center\"><span class=\"pil-unit\">USD Bn<\/span><\/div>\n      <div class=\"pil-cagr\"><span>+46%<\/span><\/div>\n      <p class=\"pil-p\" style=\"font-size:12px;border:1.5px dashed var(--navy);border-radius:8px;padding:6px 10px;margin:8px 0 0\">Primeira emiss\u00e3o de um <i>blue bond<\/i> na Rep\u00fablica de Seychelles em out\/18<\/p>\n      <div class=\"pil-bars\" role=\"img\" aria-label=\"Emiss\u00f5es de green bonds, em USD bilh\u00f5es: 2014 36; 2015 45; 2016 82; 2017 158; 2018 172; 2019 266; 2020 296; 2021 507\">\n        <div class=\"cur\" style=\"height:7.1%\"><span>36<\/span><\/div>\n        <div class=\"cur\" style=\"height:8.9%\"><span>45<\/span><\/div>\n        <div class=\"cur\" style=\"height:16.2%\"><span>82<\/span><\/div>\n        <div class=\"cur\" style=\"height:31.3%\"><span>158<\/span><\/div>\n        <div class=\"cur\" style=\"height:33.9%\"><span>172<\/span><\/div>\n        <div class=\"cur\" style=\"height:52.4%\"><span>266<\/span><\/div>\n        <div class=\"cur\" style=\"height:58.3%\"><span>296<\/span><\/div>\n        <div class=\"cur\" style=\"height:100%\"><span>507<\/span><\/div>\n      <\/div>\n      <div class=\"pil-years\"><span>2014<\/span><span>2015<\/span><span>2016<\/span><span>2017<\/span><span>2018<\/span><span>2019<\/span><span><b>2020<\/b><\/span><span><b>2021<\/b><\/span><\/div>\n      <div class=\"pil-note solid\" style=\"justify-content:center;text-align:center\"><span>\u201cEmpresas brasileiras emitiram <b>US$ 20 bi<\/b> em t\u00edtulos \u201cverdes\u201d em 2 anos<\/span><\/div>\n    <\/div>\n    <div>\n      <div class=\"pil-sub\">&#8230; e foi acompanhado pela demanda, que ainda apresenta forte potencial e espa\u00e7o<\/div>\n      <div style=\"display:grid;gap:10px\">\n        <div class=\"pil-card tint\">Emiss\u00f5es brasileiras representam pouco mais de 1% das globais, sendo o <b>Brasil o segundo maior emissor da Am\u00e9rica Latina<\/b><\/div>\n        <div class=\"pil-card tint\">Estudo da EY revelou que <b>ESG direciona decis\u00e3o de 99% dos investidores<\/b> no Brasil<\/div>\n        <div class=\"pil-card tint\">Para Jos\u00e9 Scheinkman, professor de Columbia, os <b>projetos ambientais no Brasil poderiam ser l\u00edderes no mercado ESG<\/b><\/div>\n        <div class=\"pil-card tint\">Maior demanda de mercado <b>aumenta a chance de coloca\u00e7\u00f5es bem-sucedidas,<\/b> justificando a prefer\u00eancia emiss\u00f5es sustent\u00e1veis pelas empresas<\/div>\n        <div class=\"pil-card tint\">Declara\u00e7\u00f5es de gestoras como <b>BlackRock<\/b> e <b>CalPERS<\/b> de que est\u00e3o focando em <b>pap\u00e9is que podem estar melhorando o meio ambiente<\/b><\/div>\n        <div class=\"pil-card tint\">A <b>demanda dos t\u00edtulos verdes tem superado as ofertas<\/b> e investidores tem se animado com novas possibilidades de investimentos<\/div>\n      <\/div>\n    <\/div>\n  <\/div>\n  <div class=\"pil-src\">Fonte: Exame; Estad\u00e3o; Economist Impact<\/div>\n<\/section>\n\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>ESG practices have been gaining traction globally in the corporate market and have established themselves as an important factor in investor decision-making. According to an IBM study, the topic is being treated as a top priority by 481% of Brazilian CEOs.<\/p>","protected":false},"author":1,"featured_media":5415,"template":"","meta":[],"class_list":["post-5418","pilulas","type-pilulas","status-publish","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/pilulas\/5418","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/pilulas"}],"about":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/types\/pilulas"}],"author":[{"embeddable":true,"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/users\/1"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/media\/5415"}],"wp:attachment":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/media?parent=5418"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}