Mayor Byron W. Brown announced during his 14th State of the City address that Buffalo will launch the largest environmental impact bond in the country at $30 million. The funds from this investment will allow the City of Buffalo and Buffalo Sewer Authority to capitalize on the Rain Check Buffalo program.
The investment will focus on driving innovation, advancing clean air travel technologies, accelerating reductions in waste and emissions, and establishing new offsetting and natural carbon sequestration projects, the company said.
"In the second half of 2019 Nori launched its marketplace and completed the Techstars Sustainability program. As well as delivering on their milestones, the company closed (and oversubscribed) their $1.3M pre-seed round in December."
As part of California’s cap-and-trade program, major polluters in the state are charged for the carbon emissions they generate. Some of that money is set aside for programs that both promote economic development and cut carbon pollution in disadvantaged communities.
"Verra and the Climate Action Reserve, both of which manage leading GHG crediting programs, are leading players in this space, playing a pivotal role in ensuring the highest standards when it comes to carbon measurement and accounting."