The busiest mass transit agency in the country is asking people to invest in the environment through its first-ever green bonds. New York’s Metropolitan Transportation Authority has announced it will issue $500 million in bonds this week, specifically to support projects that are working to combat the effects of climate change. The move is part of a growing trend to lend visibility to projects that might otherwise fly under the public’s radar.

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Bloomberg reports that state and local governments across the United States have already issued more than $7.5 billion in green bonds since 2010, fetching an ever-growing segment of a $3.7 trillion market. One big motivating factor behind the boom is the realization that buyers are leaning on social factors more than ever when making decisions. Environmental concerns are among the top of that list.

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Green bonds support projects in eight categories including renewable energy, clean transportation, and sustainable water management. According to financial leaders, millennials and women are most likely to use their investment dollars to support efforts to improve the world around them.

“As the baby boom generation ages and begins to pass away, then we end up with a wealth transfer that takes place and a lot of people who will be getting the wealth of the baby boomers will be women, who outlive men generally, and millennials,” said James Dearborn, head of tax-exempt securities at Columbia Threadneedle, which owns $250,000 of MTA debt.

The MTA’s green bonds are certified by the Climate Bonds Initiative, and will go towards funding continuing work on New York City Transit, Long Island Rail Road and Metro-North Railroad infrastructure renewal and upgrade projects.

Will you be investing in the MTA and the future of our planet?

Via Bloomberg

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