Freddie Mac Expands Their Green Bond Program
Freddie Mac’s Green Bond Program Expands with Single-Family Green Bond Framework and Second Party Opinion.
According to Freddie Mac, its Single-Family Green Bond Framework under its Single-Family Green Bond Program, supports the company’s commitment to promote environmentally sustainable single-family housing to help reduce climate-related risks and increase affordability. Freddie Mac’s Single-Family Green Bond Framework recently received a Light Green Second Opinion rating from CICERO Shades of Green. CICERO provides second opinions on institutions’ frameworks and independent reviews of green bonds. Freddie Mac’s Single-Family Green Bond Framework and associated CICERO Second Opinion are available at FreddieMac.com.
“Freddie Mac’s sustainability strategy strengthens our commitment to our mission, helps us drive long-term stakeholder value and makes a difference in communities nationwide,” said Mark Hanson, senior vice president of securitization for Freddie Mac. “Through our Single-Family Green MBS, we’re financing energy-efficient homes and home improvements to help more families achieve and maintain affordable homeownership while reducing the housing sector’s environmental impact.”
Freddie Mac has issued more than $600 million in Single-Family Green MBS since the first bond was issued in April 2021. Each Single-Family Green MBS issued to-date is backed by Freddie Mac GreenCHOICE Mortgages®, where borrowers used refinance proceeds to finance energy efficient home improvements. Specifically, a portion of the proceeds from each refinanced mortgage backing these Single-Family Green MBS paid off existing debt that was used to finance the purchase and installation of solar panels as a renewable energy source. Currently, Freddie Mac reviews appraisal reports to confirm the presence of solar panels on properties securing each mortgage included in our Single-Family Green MBS issuances.
https://freddiemac.gcs-web.com/news-releases/news-release-details/freddie-macs-green-bond-program-expands-single-family-green-bond