Analysis of Green Bond Financing in the Public Transportation Industry (2021) / Chapter Skim
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Pages 24-28
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24 Many transit agencies have begun to review the costs and benefits of green bonds and how they might fit into their current financing structure. This chapter aims to highlight some of the agencies who have paved the way for transit green bonds, providing market expertise and lessons learned along the way.
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Case Studies 25 Source: Massachusetts Bay Transportation Authority. Figure 7-1.
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26 Analysis of Green Bond Financing in the Public Transportation Industry MTA understood the inherent climate benefits that public transportation provides by shifting transportation demand away from private vehicles. The agency also knew that this benefit is not always realized in the market and that offering a green bond was a way of raising this awareness.
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Case Studies 27 To facilitate the bond issuance and verification process, Metro developed a framework in conformance with CBI requirements and existing sustainability and climate change commitments. To ensure alignment with LA County and Metro's commitments, the framework incorporated language from the agency's Sustainability Implementation Plan and Environmental Policy, as well as the Los Angeles Countywide Sustainability Planning Policy.
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28 Analysis of Green Bond Financing in the Public Transportation Industry To become CBI certified, Metro had both bonds verified to ensure that they met the requirements of the Climate Bonds Standard for Low Carbon Land Transport. Pre- and Post-issuance verifications were conducted by an approved verifier (CBI 2020b)
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