March 01, 2022

City’s First “Green Bonds” Finance $50+ Million in Indianapolis Stormwater Infrastructure Projects

The Indianapolis Local Public Improvement Bond Bank issued its first Green Bonds in March 2020, raising more than $50 million for improvements to the city’s stormwater infrastructure. The bonds fund stormwater system improvements that integrate nature-based solutions like hybrid ditches, use green space in city parks to manage water flow, and restore stream channels through daylighting closed creeks. Kestrel Verifiers provided a Second Party Opinion on the designation and determined that the bonds align with the Green Bond Principles and multiple UN Sustainable Development Goals by financing sustainable stormwater infrastructure.