DUBAI: US mortgage loan company Fannie Mae has reached $100 billion in its green bond issuances, which it claims to be a major milestone in “greening the US housing stock.”
The company began issuing green multifamily mortgage-backed securities over 10 years ago to support both sustainable and affordable housing through its “Green Building Certification” program and “Green Rewards” scheme.
“More than a decade ago, we pioneered green housing mortgage finance to make multifamily housing more energy-efficient, resulting in tangible and meaningful benefits for building owners and residents,” Michele Evansee, an executive vice president at the US-listed firm, said.
The securities particularly finance homes and communities that meet energy-efficiency and water-saving benchmarks.
Fannie Mae claims their bonds have saved 9.5 billion British thermal units of energy, 8.5 billion gallons of water, and 634,000 tons of carbon dioxide emissions across 872,000 properties.
“Fannie Mae is working to accelerate the greening of US housing supply and help reduce the carbon footprint of housing,” Laurel Davis, the company’s senior vice president, said.