1. Home
  2. Investor information
  3. Green Bonds and Climate Bond Certification

Green Bonds and Climate Bond Certification

Updated Oct 23, 2022

Note: Our investor terms of use apply.

 

Climate Bond Certified Bonds

In early 2016, the Climate Bonds Standard Board of the Climate Bonds Initiative ("CBI") approved the designation of MTA’s Transportation Revenue Bonds, Series 2016A Bonds as “Climate Bond Certified.” As part of the certification process, MTA engaged Sustainalytics as an independent verifier to review MTA’s 2010-2014 Capital Program to identify projects with expenditures that met the Climate Bond Standard using the Low Carbon Transport criteria.  Sustainalytics identified projects totaling $11.3 billion which qualified under the Low Carbon Transport criteria as eligible projects for CBI Programmatic Certification.  In March 2021, MTA reached the maximum of $11.3 billion in issuance of CBI-certified bonds under this program.

MTA recently engaged First Environment, Inc. as an independent verifier to review MTA’s 2015-2019 Capital Program and beginning in 2022 has started a new programmatic certification for future issuance of CBI-certified bonds pursuant to the Climate Bonds Standard 3.0 and the sector eligibility requirements of Land Transport Criteria, Version 2 (successor to the Low Carbon Transport criteria). First Environment's review of MTA’s 2015-2019 Transit and Commuter Capital Program concluded that $28.7 billion of projects qualify as eligible projects for CBI certification.  Pursuant to an agreement with CBI, MTA and its affiliate MTA Bridges and Tunnels (TBTA), and the State of New York, a portion of the projects reviewed by First Environment for the Capital Program will be funded by the State of New York as CBI Certified bonds.  Additionally, MTA expects to issue CBI-certified bonds from MTA’s various bond credits.

Below are the lists of bonds and certificates from CBI that have been designated as Climate Bond Certified pursuant to the Climate Bonds Standard Version 2.0 (and its successor Version 2.1), using the Low Carbon Transport criteria for MTA’s initial $11.3 billion program and the Climate Bonds Standard Version 3.0, using the Land Transport Criteria Version 2 for MTA’s $28.7 billion program that is beginning in 2022.