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Earlier this week, CSG EAST’s Energy and Environment Committee hosted a virtual discussion with officials at the Connecticut Green Bank, to learn about the first-ever lower denomination bond that is enabling citizens to invest in efforts to address climate change.

Green Liberty Bonds, offered in $1,000 denominations to individuals as well as institutional investors, are intended to fund projects that will further a number of broad societal goals as states work to decarbonize their energy systems, such as strengthening communities, promoting environmental justice and inclusivity, and advancing market transformation in green investing.

Connecticut Green Bank’s lower-dollar denomination bond received strong support from individual buyers in Connecticut and across the country as well as from institutional buyers

Earlier this month, the Connecticut Green Bank successfully sold-out of its inaugural Green Liberty Bond offering of $16,795,000 to retail and institutional investors in Connecticut and across the country. Demand was so strong that the supply of bonds could not meet the interest of those seeking to invest in Connecticut’s green economy.

Retail investors were given priority during a one-day retail order period on Tuesday, July 14. Total retail orders received during this order period surpassed $9.9 million. With first priority given to Connecticut citizen investors, their orders for nearly $5 million of bonds were filled before the national orders. Due to heavy volume of interest seeking the first two maturities, the Green Bank was only able to fill $1 million of the national retail order.

“When we conceived of the idea of the Green Liberty Bond, we wanted to develop a type of green investment that would enable everyday citizens to invest in confronting climate change,” said Bryan Garcia, President and CEO of the Connecticut Green Bank.  “Green bonds now have a new sub-category – a bond sold directly to the people the proceeds of which are independently certified as financing projects with climate and environmental benefits. We invite other issuers to use the Green Liberty Bond structure and help fulfill the demand of our American investors.”

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Article from The Bond Buyer:

Connecticut Green Bank, the nation’s first state-level green bank, plans to launch its Green Liberty Bonds next week.

The Rocky Hill-based bank will offer $16 million of the state-supported solar home renewable energy credit to retail and institutional investors Tuesday and Wednesday, respectively...