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WSSC Water has been committed to protecting the environment since our founding in 1918. Our Green Bond program expands that pledge with a financial commitment as well.

Environmental stewardship has always been a core value of WSSC Water. It's incorporated into our behavior, guides our decisions and is reflected in our investments in green buildings, pollution prevention and control, renewable energy and climate change adaptation, as well as our energy management program, our Greenhouse Gas reduction program and local educational activities.

In line with this commitment, WSSC Water has embarked on the "Green Bond" program, to issue bonds that will finance selected green projects. We've developed the Green Financing Framework to guide these projects with the four key components of the Green Bond Principles: use of proceeds, evaluation and selection process, management of proceeds, and reporting. These principles were developed by the International Capital Market Association, the leader in social and sustainability market practices.

Project Spotlight

Based on the project criteria and project planning and development as articulated in our Green Bond Framework, WSSC Water proposes the following projects to be financed with the proceeds from its fifth issuance of Green Bonds (issued in February 2024):

Description: Potomac Water Filtration Plant Consent Decree Program (W-73.33)
Anticipated Environmental Outcomes per International Capital Market Association (ICMA) Green Bond Principles: Pollution Prevention/Control  
KPI: Increase in the percent of river solids removed
Estimated Cost: $20,000,000
Estimated Timeline: February 2024 through November 2024

Description: Large Diameter Water Pipe & Large Valve Rehabilitation Program (W-161.01)
Anticipated Environmental Outcomes per International Capital Market Association (ICMA) Green Bond Principles: Sustainable Water Management
KPI: Miles of large-diameter water mains replaced annually
Estimated Cost: $10,000,000
Estimated Timeline: February 2024 through November 2024

The Piscataway Bioenergy Project (S-103.2) is funded in part through the State of Maryland’s Water Quality Financing Administration program. Because state funding is used, this project does not use proceeds from WSSC Water green bond sales.

WSSC Water receives grant funding via the Chesapeake Bay Restoration Fund (BRF) administered by the State of Maryland under the Maryland Department of the Environment. WSSC Water customers support the BRF through payments made as part of the bill. 

Through June 2022, WSSC Water has received $16.9 million in BRF grants for sewer basin upgrades under the Sewer Reconstruction Program (S-1.01). While this program is not supported by green bond proceeds, its purpose of pollution prevention and control is consistent with WSSC Water’s Green Financing Framework.

Reports

Read the 2023 Green Bond Annual Report 

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emma

WSSC Water will produce an annual report detailing how green bond proceeds are used to finance the selected projects, a description of the selected projects, and details of the their environmental benefits. The information will be posted to the Electronic Municipal Market Access website of the Municipal Securities Rulemaking Board. The report will be posted on or before the date eight months after the close of the fiscal year. (To find us on EMMA, search for the State of Maryland, then search listings under the Washington Suburban Sanitary Commission.)

Green Bond Principles

The Green Bond Principles of transparency, disclosure and reporting promote integrity in the Green Bond market.

Learn About the GBP

Related Green Bond Links

Green Bond Assessment

Independent Accountants' Report

Green Bond Principles

Last Modified: March 21, 2024, 6:28 pm EDT