Praxis affirms investment approach with green bond purchases
Supported projects include youth education/employment
Three recent green bond purchases continue the Praxis Mutual Funds® commitment to generate financial returns while delivering a direct benefit to people and our planet. Here are summaries of the bonds:
Youth and Employment (EYE) bond
An EYE Bond offering is designed to support loans that specifically focus on education, youths and employment programs in the Caribbean and Latin America. The projects benefiting from these investments will contribute to improving the quality of children’s education, increasing productivity and enhancing the skills of young people entering the job market.
In addition, the Inter-American Development Bank is committed to bringing about development in a sustainable, climate-friendly way.
Asian Development Bank green bond
The Asian Development Bank (ADB) again has accessed the green bond market as it raised another $750 million to help finance climate change mitigation and adaptation projects.
Of the total $6 billion, $4 billion will be dedicated to mitigation through increasing support for renewable energy, energy efficiency and sustainable transport, and building smart cities. The remaining $2 billion will be for adaptation through more resilient infrastructure, climate-smart agriculture and better preparation for climate-related disasters.
Alexandria Real Estate green bond
Net proceeds from one portion of this offering will be used to fund, in whole or in part, eligible green projects – defined as certain development, redevelopment or tenant improvement projects that received or are expected to receive Gold or Platinum LEED certification.
The Praxis Impact Bond Fund is recognized as a leader in the positive impact bond field. Fund managers purchase market-rate bonds in a variety of climate- and community-focused projects – often investing in first-of-their-kind opportunities.
About Praxis Mutual Funds
Praxis Mutual Funds is a leading faith-based, socially responsible family of mutual funds designed to help people and groups integrate their finances with their values. Praxis is the mutual fund family of Everence Financial®, a comprehensive faith-based financial services organization helping individuals, organizations and congregations. To learn more, visit praxismutualfunds.com and everence.com, or call (800) 348-7468.