State officials plans to issue up to $60 million worth of bonds in November to fund wastewater infrastructure projects across the state, Treasurer Denise Nappier’s office said.
The so-called “green” bonds are part of an overall $300 million general obligation bond issue, officials said.
Green bonds were started in 2008 by the World Bank and are meant to finance environmentally friendly projects. Approximately $51 billion of green bonds have been issued worldwide, Nappier said.
Entities that issue the bonds abide by a set of voluntary guidelines developed by finance experts, such as J.P. Morgan. The principles govern the use and management of the proceeds, the process for project evaluation, and reporting.
