External Reviews
We strive for a clear sustainability story. Each review explains the positive ESG impacts associated with bond-financed activities and how the bonds conform with internationally accepted ESG standards.


























Featured
The Wisconsin Housing and Economic Development Authority
Social Bond
The Wisconsin Housing and Economic Development Authority demonstrated a strong commitment to racial equity through its single-family mortgage loans. By providing down payment assistance and targeted programs for low-income and historically underserved communities, WHEDA is working to close the racial homeownership gap in Wisconsin.
California Public Works Board
Climate Bond
The California Public Works Board received a Climate Bonds Certification for bonds issued to fund the construction of the California Natural Resources Agency headquarters. The building is designed to achieve a LEED Platinum Certification and will be Zero Net Energy.
King County, Washington
Social Bond
King County’s 2021 housing bonds financed a portion of the Health through Housing Initiative which aims to eliminate homelessness by converting former hotels and other facilities into temporary and permanent housing options for homeless populations in the area. Kestrel provided a Second Party Opinion for the Social Bonds designation that highlights the innovative approach to addressing homelessness and providing access to services such as behavioral health evaluation and treatment centers.
The San Diego Unified School District
Green Bond
The San Diego Unified School District was given a Green Bond designation by Kestrel for its commitment to sustainability and goal to reach net-zero emissions by 2035. The District upgraded all schools with energy-efficient systems, solar array installations, and met the California State Green Building Code for new projects.
The Ohio Water Development Authority
Green Bond
The Ohio Water Development Authority issued its Series 2021 bonds to finance approximately 306 loans for wastewater and stormwater projects throughout Ohio. The allocation of proceeds through the revolving loan fund will address public health concerns and nutrient pollution which poses significant risks to the health of local waterways.
Louisville/Jefferson County Metropolitan Sewer District
Climate Bond
Louisville/Jefferson County Metropolitan Sewer District received a Climate Bonds Certification for financing improvements to its wastewater and stormwater systems. By reducing combined sewer overflows and sanitary sewer overflows to meet its obligations under the Consent Decree, and also incorporating green infrastructure in its flood control, stormwater, and wastewater systems, the District is demonstrating leadership in integrated water resource management.