Certification

The Climate Bonds Standard and Certification Scheme is a labelling scheme for bonds, loans & other debt instruments. Rigorous scientific criteria ensure that it is consistent with the goals of the Paris Climate Agreement to limit warming to under 2 degrees. The Scheme is used globally by bond issuers, governments, investors and the financial markets to prioritise investments which genuinely contribute to addressing climate change.

 

Los Angeles County Metropolitan Transportation Authority

                                                                

 

The Authority provides bus and rail transit for 1,433 square miles of the county's total 4,752 square miles, representing the vast majority of the developed portions of the county. Based on ridership, it is the third largest system in the US, after New York and Chicago. The Authority's rail system consists of 97 miles of light rail and heavy rail lines with 96 stations.

The Los Angeles County MTA’s Sustainability Implementation Plan formally addresses sustainability through climate change management, energy management and other sustainability development efforts.

This bond will finance operations relating to the Metro Rail system, which is fully electrified, therefore it is eligible under the Climate Bonds Standard Low Carbon Transport Criteria.

Specifically, the proceeds will finance a mix of improvements and acquisitions relating to the Metro Rail lines, including: station refurbishment, replacing old railway components and infrastructure, replacing and refurbishing passenger carriages, maintenance facilities, etc.

Because the transport sector in California contributes to over 40% of the State’s overall emissions, LA County MTA sees the issuance of Climate Bonds Certified bonds as a fundamental strategy to maximise the sustainability and the benefits to the people, finances and environment of the City of Los Angeles.

 

 

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DATE OF ISSUE  NAME TYPE OF INSTRUMENT SIZE COUNTRY OF ISSUE CLIMATE BONDS SECTOR CRITERIA VERIFIER'S REPORT ANNUAL REPORT FURTHER INFORMATION
October 2017

Proposition A First Tier Senior Sales Tax Revenue Bonds Series 2017-A 

Use of proceeds bond  USD   471m  United States Low Carbon Transport

First Environment pre issuance assurance statement

Post Issuance Assurance Statement

Annual report 2018

Annual report 2019

EMMA new issue

EMMA page

Green Bond Framework July 2020

Press Statement by arranger

LA Metro Bonds 

February 2019 Proposition C Sales Tax Revenue Bonds Senior Bonds, Series 2019-A Use of proceeds bond USD 419m United States Low Carbon Transport

First Environment pre issuance assurance statement

post issuance assurance statement

 

EMMA Official Document

EMMA page

LA Metro Bonds

August 2020 Measure R Junior Subordinate Sales Tax Revenue Refunding Bonds, Series 2020-A Use of proceeds bond USD 1.356 billion United States Low Carbon Transport pre issuance assurance statement   EMMA Official Statement