Green Bond Fact Sheet

This fact sheet details a USD 38 million Asset-Backed Security (ABS) green bond issued by the Connecticut Green Bank on April 9, 2019, to finance the Residential Solar Investment Program (RSIP).

• The Connecticut Green Bank issued a USD 38 million green bond on April 9, 2019, with a 15-year tenor maturing on April 9, 2034. The issuance is categorized as an ABS and was certified against the Climate Bonds Standard Version 2.1 Sector Criteria for Solar, with pre-issuance verification provided by Sustainalytics.
• The proceeds from the bond are used to finance the administration and deployment of incentives for the Residential Solar Investment Program (RSIP) by monetizing solar home renewable energy credits (SHRECs). The program involves 15-year contracts where utility companies purchase SHRECs at a fixed price for solar PV systems that received RSIP incentives, provided the incentives were approved after January 1, 2015.
• The issuance supports legislative goals, including the Connecticut Green Bank's target of 300MW of residential solar deployment by 2022 and the utilities' compliance with the renewable portfolio standard target (RPST).
• An ex-ante Climate Impact Assessment conducted by the Climate Action Reserve estimated that the SHREC systems would reduce greenhouse gases by approximately 749,494 tonnes of carbon dioxide equivalents (tCO2e). Based on the total offering value of USD 38.6 million, this results in a GHG reduction intensity of 19.4 tCO2e per USD 1,000 invested.
• Established by the Connecticut General Assembly in 2011, the Connecticut Green Bank is the first green bank in the United States. It has deployed over USD 1 billion for clean energy projects across the state in partnership with private investors.

APA

Climate Bonds Initiative (2019). Green Bond Fact Sheet. https://www.climatebonds.net/files/drupal-files/files/2019-04%20US%20Connecticut%20Green%20Bank.pdf

Chicago

Climate Bonds Initiative. Green Bond Fact Sheet. 2019. https://www.climatebonds.net/files/drupal-files/files/2019-04%20US%20Connecticut%20Green%20Bank.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=Green Bond Fact Sheet |date=23 May 2019 |url=https://www.climatebonds.net/files/drupal-files/files/2019-04%20US%20Connecticut%20Green%20Bank.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative2019green, author = {{Climate Bonds Initiative}}, title = {{Green Bond Fact Sheet}}, institution = {Climate Bonds Initiative}, year = {2019}, month = may, url = {https://www.climatebonds.net/files/drupal-files/files/2019-04%20US%20Connecticut%20Green%20Bank.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }