Curated News
By: NewsRamp Editorial Staff
September 24, 2024

Calvert Impact Announces Successful Close of Cut Carbon Note Issuance

Reddit Discuss on RedditDiscuss on LinkedIn Discuss on LinkedIn
Source News Release

TLDR

  • Investors in the Cut Carbon Note program can benefit from investment grade ratings and the potential for significant capital growth.
  • The Cut Carbon Note program finances sustainability upgrades for commercial and multifamily buildings using the Commercial Property Assessed Clean Energy tool.
  • The program is expected to save over 172,000 metric tonnes of carbon, 130 million gallons of water, and $54 million in energy cost savings cumulatively.
  • The Cut Carbon Note program offers an innovative and accessible climate investment action for individual and institutional investors.

Impact - Why it Matters

This news matters as it highlights a significant investment in sustainability upgrades for buildings to reduce carbon emissions, attracting new investors and doubling expected cost savings. The impact is a step towards a greener future and the scalability of the program is promising for long-term climate impact.

Summary

Calvert Impact, Inc. announced the closing of the second issuance of the Cut Carbon Note, a $50 million investment-grade fixed-income product that finances sustainability upgrades for commercial and multifamily buildings to reduce carbon emissions. The program received investment grade ratings and attracted over 50 new investors, doubling the expected carbon, water, and energy cost savings.

Investors in the second series included the David and Lucile Packard Foundation, Federated Insurance, Kachuwa Investment Cooperative, Mary Reynolds Babcock Foundation, National Philanthropic Trust, and clients of CapShift, Figure 8 Investment Strategies, and Natural Investments. The portfolio investments use the Commercial Property Assessed Clean Energy (C-PACE) tool, with two-thirds of the projects in the portfolio meeting the CIRRUS™ Low Carbon certification.

Source Statement

This curated news summary relied on this press release disributed by 24-7 Press Release. Read the source press release here, Calvert Impact Announces Successful Close of Cut Carbon Note Issuance

blockchain registration record for the source press release.