MAS LAC Decarbonization (IFC-606446)

Regions
  • Latin America and Caribbean
Geographic location where the impacts of the investment may be experienced.
Countries
  • Colombia
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jul 16, 2021
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Sectors
  • Agriculture and Forestry
  • Climate and Environment
  • Energy
  • Industry and Trade
  • Technical Cooperation
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 1.02 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 1.02 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Nov 10, 2025

Disclosed by Bank Nov 4, 2025

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the IFC, a former Upstream Seed workstream on manufacturing decarbonization laid the foundation for the proposed Project by identifying high-emitting subsectors with strong investment potential and recommending engagement with companies that are regionally active and show ambition toward emissions reduction. The project will guide companies through foundational steps such as GHG accounting, target setting and energy management, with IFC acting primarily as a facilitator in the early stages. The most active IFC involvement will occur in designing decarbonization pathways tailored to each company’s operations, aligning with IFC’s environmental and social standards and green financing goals. Pilot projects will be used to test and refine tools that can later be scaled globally.

Clients will be: Instituto Tecnológico y de Estudios Superiores de Monterrey A.C., Operadora y Procesadora de Productos Marinos Omarsa S.A., Movida Participacoes SA, Gerdau SA.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by Bloomberg, Movida Participacoes S.A. provides vehicle leasing services. The Company offers passenger car rental, fleet management, adaption, and maintenance services.

Instituto Tecnologico y de Estudios Superiores de Monterrey offers degrees in undergraduate and graduate level curriculum. The Institute offers programs including undergraduate degree programs in nursing and business. Instituto Tecnologico y de Estudios Superiores operates throughout Mexico.

As stated by the IFC, Operadora y Procesadora de Productos Marinos (“Omarsa”) is a fully integrated hatcher, processor, and exporter of shrimp located in Ecuador. Established in 1977, Omarsa is currently Ecuador’s second largest shrimp exporter.

As stated on the company's website, with a history spanning more than 120 years, Gerdau is Brazil's largest steel producer, one of the leading producers of long steel in the Americas, and of special steel in the world. In Brazil, Gerdau also produces iron ore for its own use, as well as flat steel. 

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Gerdau SA Client Industry and Trade
- - - - Instituto Tecnológico de Monterrey (ITESM) Client Education and Health
- - - - Movida Participacoes S.A. Client Transport
- - - - Operadora y Procesadora de Productos Marinos Omarsa S.A. Client Agriculture and Forestry

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

No contacts provided at the time of disclosure.

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

How it works

How it works