April 23, 2015
By Neal Tepel
New York, NY – Calling all investors, now is the time to start helping to finance clean water, energy efficient buildings and other environmentally conscious projects throughout the the city. According to the latest report out of Comptroller Scott Stringer's office, a new Green Bonds program is shaping up to be a boon for the five boroughs.
“A Green Bond program can translate our city's commitment to a more sustainable future into infrastructure projects that build a more resilient and livable City,” said Comptroller Stringer. “Climate change has focused worldwide attention on the need for investing in our built environment. With demand increasing for socially conscious investing, New York City should lead the way in shaping the municipal bond marketplace by launching a Green Bond program.”
Internationally, more than $36 billion in Green Bonds were issued in 2014, triple the previous year’s issuance. According to Comptroller Stringer, Green Bonds would broaden the City's investor base, potentially saving taxpayer dollars. A high quality Green Bonds program in New York City would also promote investment in the City. In addition, the sheer size of New York City's program would help the municipal Green Bond market grow, opening up a new type of capital investment with environmental benefits for big cities and small towns across the country and around the world.