PACE Equity, in collaboration with Calvert Impact Climate, Inc., has successfully concluded the launch of the Cut Carbon Note. This innovative green bond offers both individual and institutional investors the opportunity to support environmentally-friendly commercial real estate projects through C-PACE financing.
The Cut Carbon Note is a secure, investment-grade fixed-income product that finances energy-efficient and carbon-reducing improvements for commercial buildings. The first series of this bond will fund twelve building projects that are expected to collectively reduce 82,856 metric tons of carbon emissions, save 38.7 million gallons of water, and cut down on $21.5 million in energy costs.
Tricia Baker , Senior Vice President of Strategy & Impact at PACE Equity stated: “The successful closure of our first Cut Carbon Note series reflects the high demand for direct green investments and demonstrates a strong interest in low-carbon commercial development . Investors participating in this unique partnership are true pioneers.”
