The University of Cincinnati says it's the first public university in the United States to bring a Green Bond to market. The first-ever higher education green bond was offered by MIT in September.
The estimated $29 million in Green Bonds will fund a portion of the renovation of Scioto Hall, to be redesigned as a green building. Its "twin" structure, Morgens Hall, has already been renovated with sustainable features and design.
Scioto is expected to open as a LEED building in August 2016. Features of the dorm:
- 2,000 glass panels. The glass has low-emissive properties and will have a white linear pattern adding another degree of insulation
- Energy Efficient mechanical system
- LED lighting
- Energy-recovery system
- Wood from sustainably managed forests
- Use of materials from the local region
UC's General Receipts Bonds, Series 2014C will market on or about December 2.
Green Bonds were first issued by the World Bank in 2008 to pay for environmentally friendly projects and help stimulate and coordinate public and private sector activity to combat climate change.