Milton, MA – A “green bonds” program launched by the Massachusetts Treasurer Steve Grossman and supported in the Environmental Bond Bill in a section authored by Sen. Brian Joyce has seen over $1 billion of interest from investors as the initial $350 million in bonds were made available last week. The program goes toward clean drinking water projects, energy efficiency and conservation in state buildings, river revitalization and habitat restoration projects, and more.
“Massachusetts has taken the lead in enticing investment for environmentally-responsible projects,” said Joyce. “The success of this initial offering illustrates the pent up demand and value that the financial sector places on green innovation. That great demand saves Commonwealth taxpayers millions in reduced interest rates over the life of the bonds.”
Massachusetts became the first state in the nation to offer green bonds when it launched the program last year. Since that time, New York, California and Washington, D.C. have followed suit. The S&P estimates that annual green bond issuances will grow to $40 billion this year bringing the worldwide total to $500 billion.