Positive investing

We seek to include investments that both generate a competitive financial return and deliver a clear and direct benefit to people and our planet. These investments include renewable energy projects, green bonds, low-income housing, education, social bonds and medical research.
Aerial closeup view of wind turbine
How we do it

Supporting the good in the world

Through the Praxis Impact Bond Fund, we invest in bonds that finance projects around the world. These bonds receive competitive financial returns, and have a clear, direct impact on the world. Investments include renewable energy projects, green bonds, low-income housing, education, social bonds and medical research. Take a look at some of the examples of current projects funded by our impact bonds below or download our current Real Impact Quarterly report (PDF).
Hillside village in Morroco

Ouarzazate Solar Power Plant

Location: Morocco

Issuer: European Investment Bank (EIB)

Total amount issued: 1 billion USD

Bond maturity date: Oct. 10, 2024

Praxis purchase: 1 million USD

Bond rating: Aaa

The European Investment Bank (EIB) has long been at the forefront of the green bond movement. One project financed by the EIB’s 1 billion USD green bond is the Ouarzazate Solar Power Plant in Morocco. The first plant has a 160 MW capacity. The second and third phases of the project are expected to add another 340 MW of capacity. The project is expected to provide solar power for 250,000 individuals and avoid 240,000 metric tons of CO2 emissions each year.

Three story apartment building

Social Housing Mortgages

Location: Across 39 states and the District of Columbia

Issuer: Freddie Mac

Total amount issued: 230 million USD

Bond maturity date: Jan. 25, 2031

Praxis purchase: 1.5 million USD

Bond rating: Aaa

In 2021, Freddie Mac (FHLMC) issued a social bond under its Agency CMBS (Commercial Mortgage Backed Security) program. This security helped support 1,267 rental homes across 39 state and D.C. for individuals with intellectual and developmental disabilities. The goal of this bond was to help address “the significant shortage of community based homes critical to the deinstitutionalization of care”.

Solar Panels in Colorado

Solar Star 1 and 2

Location: Kern and Los Angeles Counties, California

Issuer: Solar Star Funding LLC

Total amount issued: 1.325 billion USD

Bond maturity date: June 30, 2035

Praxis purchase: 875 thousand USD

Bond rating: Baa2

In 2013, Solar Star issued a $1 billion bond for the construction of Solar Star 1 and Solar Star 2 photovoltaic power stations and in 2015 they issued another $325 million. The 586 MW projects began in early 2013 and were completed in 2015. The Praxis Impact Bond Fund was involved in both bond deals. 3,200 acres of previously, privately owned land was used to install 1,720,000 panels that deliver enough electricity to power 255,000 homes and creates an avoidance of more than 570,000 tons of CO2 emissions per year.

Invest in Praxis

Talk to your financial advisor to invest in Praxis Mutual Funds. You can also complete an online application or download a paper application.

Or call us at 800-977-2947.

Are you a financial professional?

Help your clients invest in impact by adding Praxis Mutual Funds to your portfolios.

For more information about the Funds and advisor resources, visit Praxis for Advisors. Or, contact advisorinfo@praxismutualfunds.com.

Or download an account application.

For financial professionals

Let us support you as you help your clients make a difference through Praxis Mutual Funds. Find client materials, webinars and other educational materials at Praxis for Advisors.


Bond funds will tend to experience smaller fluctuations in value than stock funds. However, investors in any bond fund should anticipate fluctuations in price, especially for longer-term issues and in environments of rising interest rates.