March 12, 2022

St. Paul Port Authority sells first-ever sustainability bonds for Emerald Ash Borer removal

The City of Saint Paul and the Saint Paul Port Authority partnered to issue Sustainability Bonds to finance the replacement of dead, dying, or at-risk Ash trees as a result of the area’s Emerald Ash Borer infestation. The bonds will finance the replanting of new trees throughout St. Paul and support the City’s removal of stumps left behind from previous removals. As trees provide innumerable benefits to people and communities, the project is imperative for the health and sustainability of communities and urban forests in St. Paul. Kestrel provided a Second Party Opinion on the Sustainability Bonds designation for the positive impact of the projects on low-income communities and the environmental benefits of urban forests.