Buffalo Sewer Authority Issues Largest-Ever U.S. Environmental Impact Bond
BUFFALO, N.Y., June 22, 2021 /PRNewswire/ -- The Buffalo Sewer Authority closed on a $54 million Environmental Impact Bond (EIB) last week, the country's largest to date, to finance green infrastructure and stormwater mitigation projects as part of its Rain Check 2.0 initiative.
- BUFFALO, N.Y., June 22, 2021 /PRNewswire/ -- The Buffalo Sewer Authority closed on a $54 million Environmental Impact Bond (EIB) last week, the country's largest to date, to finance green infrastructure and stormwater mitigation projects as part of its Rain Check 2.0 initiative.
- Buffalo Sewer will use the bond proceeds to design and implement green infrastructure to capture stormwater, reduce combined sewer overflows, and enhance community benefits including jobs.
- "It also establishes Buffalo as the nation's leader in gaining access to impact investors who seek not only financial returns, but also measurable environmental impact."
- "By committing to the highest levels of transparency and accountability in issuing this Environmental Impact Bond, Buffalo Sewer engineered this novel outcomes-based call feature to incentivize all parties to significantly accelerate the production of green infrastructure in Buffalo."