The independent panel of judges chose the Manaus Ambiental project financing to win the marine impact trophy at the IJGlobal ESG Awards 2024 with one judge saying it had “tangible impact on the local community”.

Another judge said: “This is an impactful project making improvements to the water supply and sanitary sewage systems benefitting the local community of Manaus by providing reliable access to clean water and better sanitation, which is critical to public health, reducing waterborne diseases.”

Citibank was the lead underwriter on the Manaus Ambiental Debentures project financing – financing a project responsible for water, sewage collection and treatment services in Manaus, the capital of the State of Amazonas, and other smaller cities in the region.

It was the fifth issuance of simple debentures, not convertible into shares, in a single series, of the unsecured type, for public distribution, in accordance with the automatic distribution registration procedure, by Manaus Ambiental.

The issuance was one of the most relevant and comprehensive financing in Brazil in 2023 with Pinheiro Neto Avogados advising Citibank, and Lefosse Advogados acting as counsel to the issuer.

The proceeds from this issuance were allocated to expand and improve the water supply system, as well as to implement, expand, and improve the sanitary sewage system in the municipalities where Manaus Ambiental operates.

This strategic allocation directly aligns with the company’s ESG policies, demonstrating commitment to sustainable development and social responsibility.

The environmental impact of the project is significant, as the expansion and improvement of the water supply system contribute to the efficient use of water resources, reducing waste and ensuring sustainable water management.

Expanding and improving the sanitary sewage system help prevent environmental contamination, protecting local ecosystems and promoting public health.

Socially, the improvements to the water supply and sanitary sewage systems directly benefit the local community of Manaus by providing reliable access to clean water and better sanitation.  This leads to significant health development, reducing waterborne diseases and enhancing the overall quality of life for residents.

The project also included active engagement with local stakeholders to ensure that the upgrades met community needs and expectations.

Transparent communication and collaboration with municipal governments and local residents ensured that the improvements were effectively implemented and widely accepted.