Hannon Armstrong Sustainable Infrastructure Capital, Inc. [NYSE: HASI] has launched the $100 million CarbonCount Green Commercial Paper Note Program. The launch of this Program of the firm is the new breakthrough as it will be the first fully Green Commercial Paper program in the United States.
The firm disclosed that this CarbonCount Green Commercial Paper Program is another cost-effective and advanced component of its distinct funding platform, as the firm has earned a reputation as a leader in both climate-positive investing and green debt issuance. This new program is in line with its investment thesis and Sustainability Investment Policy as it only invests in assets that are neutral to negative on incremental carbon emissions or have some other substantial environmental advantages, such as decreasing water loss.
CarbonCount Green CP Program
As per the CarbonCount Green CP Program, amounts may be lent, repaid, and re-borrowed from time to time, with the highest aggregate face or principal amount of CarbonCount Green Commercial Paper Notes outstanding at any one time, not more than $100 million. The CarbonCount Green Commercial Paper Notes will be put up for sale in conditions that are common for the US commercial paper market.
Furthermore, the firm has decided to devote an amount equal to net earnings of CarbonCount Green Commercial Paper Notes purchase or refinance, in whole or in part, Eligible Green Projects, which involve Behind-the-Meter, Grid-Connected and Sustainable Infrastructure projects. Behind-the-Meter will distribute building or facility projects, Sustainable Infrastructure will update delivery and shipping systems, and Grid-Connected plans will implement cleaner energy sources.