This is an update to Dina Medland's Feb. 18 article, Largest US certified green bond issued – by New York’s Metropolitan Transportation Authority (MTA) - Dina Medland

 

There’s nothing like calling a wave before riding it. New York's Metropolitan Transportation Authority (MTA) might be stunned by its leadership. Having planned an inaugural green bond for $500m, it found a whirlwind of interest from institutional as well as individual investors – you and me – taking the certified green bond to $782.52m.

This makes it the largest green bond ever certified by the Climate Bonds Initiative, with the next in-line being ABN AMRO (EUR500m ($564m)). 

A large slice - $250m in total – of MTA’s green bond was bought by retail investors, following a marketing campaign (see story below). Two high net-worth retail orders of $5 million were identified as specifically seeking a green certified bond, according to MTA communications.

MTA has joined other issuers to use the Climate Bonds Standard, including HFE, Nacional Financiera (NAFIN), ABN AmroANZ Bank, NAB and Big60million.

Dina Medland is an independent writer, editor and commentator with a strong focus on issues around corporate governance, ethics, the workings of the boardroom and sustainable business. She is on the team of contributors to @ForbesEurope and is an ex-Financial Times staff member who has been a regular contributor in recent years. Further details about her background and a portfolio of work – including her commercially sponsored blog ‘Board Talk’ are available on her website http://www.dinamedland.com