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8/28/2023
The Washington Metropolitan Area Transit Authority (WMATA) is selling bonds that have secured a Sustainability-Climate Transition designation.
Issuing bonds is part of WMATA's strategy to maintain a predictable revenue stream to plan for long-term capital projects that modernize the system and keep it safe and reliable for generations to come, WMATA officials said in a press release. The Sustainability–Climate Transition Bonds designation is issued by the International Capital Market Association.
The $797.8 million bond sale will fund capital projects across WMATA's approved fiscal-year 24 capital improvement plan, including automatic train control equipment upgrades, traction power upgrades, work on WMATA's existing fleet of trains and its next generation of rail cars; and rail station LED lighting improvements.
Climate Transition Bonds require that bond proceeds are used exclusively to fund projects with environmental and social benefits — and WMATA’s entire capital program qualifies, authority officials said.