NEW YORK — The Metropolitan Transportation Authority Wednesday announced
that it will offer its first-ever “Green Bonds” to the public
in a two-day order period starting next Wednesday, February 17.
The bonds are certified by the Climate Bonds Initiative, an international
not-for-profit organization that supports financing for projects around
the world that help reduce the impacts of climate change.
The bonds’ proceeds of $500 million will pay for continued work on infrastructure
renewal and upgrade projects on Metro-North Railroad, New York City Transit
and Long Island Rail Road that were begun during the MTA’s 2010-2014 capital
program.
Green Bonds, also known as Climate Bonds, were popularized in 2010 as
a method for raising capital for climate-friendly projects around the
globe. In 2015, $41.8 billion in Green Bonds were issued.
