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.
Issuer | Label | Dated | Sector | Series | Par | Taxable / | Location |
City of Holland (Holland BPW) | Green | 20220414 | Water | $ 15,335,000 | Tax-Exempt | MI | |
St. Paul Port Authority | Sustainability | 20220406 | Natural Resource Management | $ 15,935,000 | Tax-Exempt & Taxable | MN | |
Indianapolis Local Improvement Bond Bank | Green | 20220328 | Transportation | $ 65,000,000 | Tax-Exempt | IN | |
Minnesota Housing Finance Agency | Social | 20220316 | Housing | $ 150,000,000 | Tax-Exempt & Taxable | MN | |
Regents of the University of Michigan | Green | 20220314 | Public facilities | $ 300,000,000 | Taxable | MI | |
Peninsula Corridor Joint Powers Board | Climate | 20220302 | Transportation | $ 140,000,000 | Tax-Exempt | CA | |
Indianapolis Local Improvement Bond Bank | Green | 20220224 | Water | $ 50,000,000 | Tax-Exempt | IN | |
Colorado Housing and Finance Authority | Social | 20220224 | Housing | $ 125,000,000 | Tax-Exempt & Taxable | CO | |
Arizona Industrial Development Authority (New Life Forest Restoration LLC) | Sustainability-Linked | 20220223 | Natural Resource Management | $ 199,691,759 | Taxable | AZ | |
Minnesota Housing Finance Agency | Social | 20220217 | Housing | $ 99,990,000 | Tax-Exempt & Taxable | MN | |
Los Angeles World Airports | Green | 20220216 | Public Facilities | $ 546,015,000 | Taxable | CA | |
Texas Department of Housing and Community Affairs | Social | 20220209 | Housing | $ 190,000,000 | Tax-Exempt | TX | |
Louisville and Jefferson County Metropolitan Sewer District | Climate | 20220201 | Water | $ 225,000,000 | Tax-Exempt | KY | |
Connecticut Green Bank Liberty Notes, LLC | Green | 20220114 | CCAs, Microgrids & Energy Efficiency Programs (R-PACE/C-PACE) | $ 190,400 | CT | ||
Minnesota Housing Finance Agency | Social | 20211223 | Housing | $ 175,000,000 | Tax-Exempt & Taxable | MN | |
Wisconsin Housing and Economic Development Authority | Social | 20211223 | Housing | $ 99,990,000 | Tax-Exempt | WI | |
Marie Selby Botanical Gardens | Sustainability | 20211221 | Public Facilities | $31,610,000 | Tax-Exempt | FL | |
Metropolitan Atlanta Rapid Transit Authority | Green | 20211216 | Transportation | $369,563,000 | Tax-Exempt & Taxable | GA | |
Tennessee Housing Development Agency | Social | 20211216 | Housing | $90,820,000 | Tax-Exempt | TN | |
Ohio Water Development Authority | Green | 20211214 | Water | $250,000,000 | Tax-Exempt | OH | |
Springfield College (Massachusetts Development Finance Agency) | Green | 20211208 | Education | $106,675,000 | Tax-Exempt | MA | |
King County, Washington | Social | 20211201 | Housing | $466,150,000 | Taxable | WA | |
Washington State Housing Finance Commission | Social | 20211130 | Housing | $79,525,000 | Tax-Exempt | WA | |
Marin Clean Energy (California Community Choice Financing Authority) | Climate | 20211124 | Power | $602,655,000 | Tax-Exempt | CA | |
Fairfax County Economic Development Authority | Green | 20211123 | Public Facilities | $74,605,000 | Tax-Exempt | VA | |
North Dakota Housing Finance Agency | Social | 20211123 | Housing | $141,300,000 | Tax-Exempt & Taxable | ND | |
Colorado Housing and Finance Authority | Social | 20211118 | Housing | $125,000,000 | Tax-Exempt & Taxable | CO | |
State Public Works Board for the State of California | Climate | 20211117 | Public Facilities | $467,550,000 | Tax-Exempt | CA | |
Hudson Yards (The City of New York) | Green | 20211027 | Transportation | $454,140,000 | Tax-Exempt | NY | |
San Diego Unified School District (San Diego County, California) | Green | 20211021 | Education | $976,380,000 | Tax-Exempt & Taxable | CA | |
Equitable Schools Revolving Fund | Social | 20211020 | Education | $217,815,000 | Tax-Exempt | Multi | |
California Science Center Foundation (California Infrastructure and Economic Development Bank) | Sustainability | 20211019 | Public Facilities | $145,255,000 | Tax-Exempt | CA | |
Park City, Utah | Green | 20211013 | Water | $66,135,000 | Tax-Exempt | UT | |
Indiana Finance Authority | Green | 20211005 | Transportation | $527,645,000 | Taxable | IN | |
Ohio State University | Green | 20210930 | Education | $600,000,000 | Tax-Exempt | OH | |
West County Facilities Financing Authority | Green | 20210930 | Water | $79,575,000 | Tax-Exempt | CA | |
Regents of the University of Minnesota | Sustainability | 20210930 | Education | $36,875,000 | Taxable | MN | |
Tennessee Housing Development Agency | Social | 20210930 | Housing | $99,990,000 | Tax-Exempt | TN | |
Minnesota Housing and Finance Agency | Social | 20210928 | Housing | $150,000,000 | Tax-Exempt | MN | |
East Bay Community Energy and Silicon Valley Clean Energy (California Community Choice Financing Authority) | Green | 20210923 | Power | $1,234,720,000 | Tax-Exempt | CA | |
Friends of TEAM Charter Schools, Inc. (Essex County Improvement Authority) | Social | 20210921 | Education | $49,570,000 | Tax-Exempt | NJ | |
City of Tacoma, Washington | Green | 20210914 | Power | $121,855,000 | Tax-Exempt | WA | |
Texas Department of Housing and Community Affairs | Social | 20210901 | Housing | $150,000,000 | Tax-Exempt | TX | |
Arizona Industrial Development Authority | Social | 20210826 | Education | $238,500,000 | Tax-Exempt & Taxable | AZ | |
Colorado Housing and Finance Authority | Social | 20210819 | Housing | $130,000,000 | Tax-Exempt and Taxable | CO | |
Gainesville Regional Utility (City of Gainesville, Florida) | Green | 20210811 | Water | $39,475,000 | Tax-Exempt | FL | |
The Board of Education of the City of Newark in the County of Essex, New Jersey | Sustainability | 20210729 | Education | $93,905,000 | Tax-Exempt | NJ | |
Oberlin College | Climate | 20210728 | Education | Taxable Bonds, Series 2021A (Green Bonds – Climate Bond Certified) | $80,625,000 | Taxable | OH |
Longwood Gardens, LLC (Chester County Industrial Development Authority) | Sustainability | 20210715 | Public Facilities | $163,610,000 | Tax-Exempt | PA | |
Wisconsin Housing and Economic Development Authority | Social | 20210623 | Housing | $175,000,000 | Tax-Exempt | WI | |
City of Seattle, Washington | Green | 20210617 | Water | $82,220,000 | Tax-Exempt | WA | |
Washington Metropolitan Area Transit Authority | Climate | 20210608 | Transportation | $784,425,000 | Tax-Exempt | DC | |
Colorado Housing and Finance Authority | Social | 20210520 | Housing | $85,000,000 | Tax-Exempt & Taxable | CO | |
Colorado Housing and Finance Authority | Social | 20210518 | Housing | $16,100,000 | Tax-Exempt & Taxable | CO | |
Cuyahoga Metropolitan Housing Authority | Social | 20210513 | Housing | $32,000,000 | Tax-Exempt | NY | |
American Museum of Natural History | Sustainability | 20210512 | Public Facilities | Taxable Bonds, Series 2021 (Sustainability Bonds) | $135,000,000 | Taxable | NY |
Texas Department of Housing and Community Affairs | Social | 20210428 | Housing | $100,000,000 | Tax-Exempt | TX | |
Stanford University (California Educational Facilities Authority Revenue Bonds) | Climate & Sustainability | 20210428 | Education | $300,400,000 | Tax-Exempt | CA | |
CMFA Special Finance Agency 1 | Social | 20210330 | Housing | $123,775,000 | Tax-Exempt & Taxable | CA | |
Tualatin Hills Park & Recreation District (Washington County, Oregon) | Green | 20210330 | Parks & Recreation | $13,265,000 | Tax-Exempt | OR | |
Regional Transportation District (Colorado) | Climate | 20210311 | Transportation | $834,035,000 | Tax-Exempt & Taxable | CO | |
Cime - Wind II | Climate | 20210301 | Power | PME Capital Financière AG Wind II (Climate Bonds) | $112,690,600 | Taxable | EU |
Housing Authority of the City and County of Denver, Colorado | Sustainability | 20210217 | Housing | $49,355,000 | Tax-Exempt & Taxable | CO | |
Colorado Housing and Finance Authority | Social | 20210121 | Housing | $125,000,000 | Tax-Exempt & Taxable | CO | |
City of Boston, Massachusetts | Green | 20201230 | Public Facilities | $23,885,000 | Tax-Exempt | MA | |
On Lok Senior Health Services (California Health Facilities Financing Authority) | Social | 20201119 | Health | $39,680,000 | Tax-Exempt | CA | |
The Carmelite System, Inc (Public Finance Authority) | Social | 20201117 | Health | $53,200,000 | Tax-Exempt | Multi | |
City of Edmonds, Washington | Climate | 20201110 | Water | $13,875,000 | Tax-Exempt | WA | |
Alabama Public School and College Authority | Social | 20201104 | Education | $1,480,835,000 | Tax-Exempt & Taxable | AL | |
Equitable School Facilities Fund (California Infrastructure and Economic Development Bank) | Social | 20200819 | Education | $48,115,000 | Tax-Exempt | CA | |
Equitable School Facilities Fund (Arizona Industrial Development Authority) | Social | 20200819 | Education | $122,710,000 | Tax-Exempt | AZ | |
Milwaukee Metropolitan Sewer District | Climate | 20200812 | Water | $27,690,000 | Tax-Exempt | WI | |
City of Seattle, Washington | Green | 20200805 | Power | $198,305,000 | Tax-Exempt | WA | |
North Texas Municipal Water District | Green | 20200729 | Water | $35,130,000 | Tax-Exempt | TX | |
Connecticut Green Bank | Climate | 20200729 | Power | $16,795,000 | Taxable | CT | |
Wareham, Massachusetts | Green | 20200618 | Education | $13,520,000 | Tax-Exempt | MA | |
Park City, Utah | Green | 20200616 | Water | $75,515,000 | Tax-Exempt | UT | |
PACE Funding LLC. | Green | 20200605 | Power | 2020 PACEfunding Bonds (Green Bonds) | $92,840,000 | Taxable | Multi |
City of Berkeley, California | Green | 20200603 | Public Facilities | $11,690,000 | Tax-Exempt | CA | |
Dublin Unified School District (Alameda County, California) | Green | 20200513 | Education | $123,000,000 | Tax-Exempt | CA | |
Sacramento Municipal Utilities District | Green | 20200507 | Public Facilities, Power | $25,220,000 | Tax-Exempt | CA | |
Milwaukee Metropolitan Sewer District | Climate | 20200430 | Water | $80,000,000 | Tax-Exempt | WI | |
Metro, Oregon | Sustainability | 20200420 | Parks & Recreation | $90,000,000 | Taxable | OR | |
City of Berkeley, California | Sustainability | 20200416 | Housing | $38,000,000 | Taxable | CA | |
City of Berkeley, California | Green | 20200416 | Public Facilities | $7,790,000 | Tax-Exempt | CA | |
Albany State University (Albany-Dougherty Inner City Authority) | Social | 20200121 | Education | $47,395,000 | Tax-Exempt | GA | |
California Infrastructure and Economic Development Bank | Climate | 20191219 | Public Facilities | $272,605,000 | Tax-Exempt | CA | |
City of Minneapolis, Minnesota | Green | 20191205 | Public Facilities | $114,400,000 | Tax-Exempt | MN | |
Equitable School Facilities Fund (California Infrastructure and Economic Development Bank) | Social | 20190818 | Education | $19,010,000 | Tax-Exempt | CA | |
Equitable School Facilities Fund (Arizona Industrial Development Authority) | Social | 20190818 | Education | $92,715,000 | Tax-Exempt | AZ | |
Sacramento Municipal Utility District | Green | 20190725 | Public Facilities | $59,640,000 | Tax-Exempt | CA | |
South Bayside Waste Management Authority | Green | 20190709 | Solid Waste | $16,915,000 | Tax-Exempt | CA | |
South Bayside Waste Management Authority | Green | 20190709 | Solid Waste | $31,860,000 | Tax-Exempt | CA | |
Connecticut Green Bank | Climate | 20190326 | Power | Solar Home Renewable Energy Credits (SHREC) Collateralized Notes Series 2019-1 Class A and Class B | $38,600,000 | Taxable | CT |
City of Minneapolis, Minnesota | Green | 20181031 | Public Facilities | $96,220,000 | Tax-Exempt | MN |