BOSTON (WWLP) – For the second year, the state is selling “Green Bonds,” but only for one week, because they went fast.
Sales for “Green Bonds” tripled compared to last year, and all that money is going right back to protecting the environment.
Massachusetts was the first state to begin selling “Green Bonds,” money borrowed to fund environmental projects statewide.
The sale proved to be a success for the second year in a row. The state sold all $350 million dollars worth of “Green Bonds” last week and even had to turn some investors away.
Steven Grossman, Massachusetts Treasurer said, “Boy, I wish I had more bonds to sell. We had orders for over one billion dollars worth of bonds and we could only satisfy 350 million dollars of that demand.”
Eventually, that money will be paid back to investors. Treasurer Grossman said “Green Bonds” attract so many buyers because people like to see their money go toward helping the environment.
Western Massachusetts has seen some of those benefits, energy system upgrades were installed in Trial courts in Springfield, Holyoke, Chicopee and Pittsfield last year.