Kestrel provided a Sustainability Bond Second Party Opinion for Gallatin County’s June 2022 bond issuance. Bridger Aerospace Group, LLC intends to use bond proceeds to acquire four CL-415EAF Super Scooper planes to combat wildfires in the Western United States. The Super Scoopers will pick up water from nearby lakes and rivers and release onto active wildfires. This method of wildland firefighting will save lives, reduce risk to vulnerable populations (which are disproportionately affected by wildfire disasters), minimize negative public health impacts from poor air quality associated with wildfires, and enhance wildfire response without the use of harmful chemicals to suppress fires. These projects fall under two eligible project categories as defined by the Green Bond Principles and the Social Bond Principles: Sustainable Management of Natural Resources and Natural Disaster Response.