SAN PEDRO – The Port of Angeles issued $35.2 million in green bonds on Sept. 15 to become the first U.S. port to venture into the growing sustainability bond market, in which investors support projects and companies making social and environmental improvements.
The POLA’s green bonds were independently reviewed Sustainalytics, a global leader in sustainability research and analysis whose clients include Apple Inc. and Starbucks Corp, to ensure conformance to international social and sustainability principles.
The green bonds are part of an overall $201.6 million bond issue that will net the Port a record present value savings of $32.5 million, an average of $1.9 million annually through 2040.