DC Water’s Environmental Impact Bond

Climate financeCatalyzing finance
Written By Natalia Gutierrez

Climate Bonds Initiative - August 2015

In July 2014, DC Water issued a $350 million green bond to finance the construction of a tunnel system aimed at reducing sewer overflows into the Anacostia River. This initiative marked the first green municipal bond for water infrastructure in the United States. The bond attracted significant investor interest, leading to an upsizing from the initially planned $300 million. To ensure environmental integrity, DC Water obtained a second-party opinion on the bond's green credentials. This case shows how municipal entities can leverage green bonds to fund large-scale infrastructure projects with environmental benefits.

Natalia Gutierrez
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