Greater Ohio Policy Center

09/28/2021 | News release | Distributed by Public on 09/28/2021 10:11

OAQDA Launches ‘Green Bonds’ Program to Finance Sustainable Projects

The Ohio Air Quality Development Authority (OAQDA) has announced a new "Green Bonds" program to meet the environmental and economic needs of Ohio businesses and communities.

To attract new investors for Ohio projects, OAQDA recently established a Green Bond Framework in accordance with international capital market standards and is using the existing selection criteria and accountability standards through the Clean Air Improvement Program (CAIP). The Green Bond Framework was approved by the Authority in July 2021 and features the following project types:

  • Renewable Energy (including wind and solar projects)

  • Energy Efficiency Projects

  • Recycling or Waste Disposal

  • Mitigation of Harmful Air Pollution

  • Electric Vehicle or Alternative Fuel Infrastructure

Kestrel Verifiers , a nationally-recognized expert, with over 20 years of experience assisting state and local governments access capital for infrastructure and sustainability projects, has been selected by OAQDA to assist in the application process, including use of an external reviewer of the green bond issuance to evaluate and issue their objective opinion on the merits of the project in alignment with international green, social, and sustainability bond standards.

Projects that may be eligible for Green Bond designation must also align with the existing evaluation and accountability features of the Clean Air Improvement Program (CAIP). .CAIP is OAQDA's resource for businesses looking to improve air quality. OAQDA helps businesses by providing financial tools through bond financing, allowing them to make investments in cleaner, more efficient technologies such as pollution control, energy efficiency, and renewable energy.

Businesses with potentially eligible projects are encouraged to apply and learn more by visiting