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Massachusetts sells “Green Bonds” to fund enviro projects

Written by Jim Cummings on June 4, 2013. Posted in New Developments

The Commonwealth of Massachusetts has just completed a brief sales period during which it sold $100 million worth of “Green Bonds” to fund environmentally-oriented infrastructure projects. This is the first state-offered Green Bond, following on a model that the World Bank has been using for several years to fund climate change projects. The funds raised in the Massachusetts Green Bond offering will support the state’s Accelerated Energy Program, which aims to cut energy consumption in state-owned buildings by 20-25%, as well as open space protection, river revitalization, and other projects.

Interestingly, the bonds were offered to individual retail investors before being placed on the open market, where institutional investors bought the bulk of the offering.

For more, see this press release.

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