One of WSSC Water's core values, environmental stewardship serves to guide and incorporate behavior and decision making into our investments into green buildings, pollution prevention and control, renewable energy, water quality, and climate change adaptation.
WSSC Water's commitment to sustainability is reflected in our energy management program, in our Greenhouse Gas reduction program, and local educational activities.
In line with this commitment, WSSC Water is planning to issue green bonds related to several selected green projects. A Green Bond Framework has been created to guide the management of “green-bonded” projects. The framework addresses the four components of the Green Bond Principles, as provided by the International Capital Market Association, the leader in social and sustainability market practices. The four components are: use of proceeds, evaluation and selection process, management of proceeds, and reporting.
Based on the project criteria, and project planning and development as articulated in the WSSC Water's Green Bond Framework, WSSC Water proposes the following projects to be financed with the proceeds from its first series of Green Bonds in December 2019:
Potomac Water Filtration Plant (WFP) Consent Decree Program (W-73.33)
Anticipated Environmental Outcomes per International Capital Market Association (ICMA) Green Bond Principles: Pollution Prevention/Control and Terrestrial and Aquatic Biodiversity Conservation
Estimated Cost: $9,975,000
Estimated Timeline Green Bond Spend: July 2019 through July 2020
Potomac WFP Pre-Filter Chlorination & Air Scour Improvements (W-73.22)
Anticipated Environmental Outcomes per ICMA Green Bond Principles: Sustainable Water Management
Estimated Cost: $8,000,000
Estimated Timeline Green Bond Spend: July 2019 through July 2020
Large Diameter Water Pipe & Large Valve Rehabilitation Program (W-161.01)
Anticipated Environmental Outcomes per ICMA Green Bond Principles: Sustainable Water Management
Estimated Cost: $40,385,000
Estimated Timeline Green Bond Spend: July 2019 through July 2020
The Piscataway Water Resource Recovery Facility (WRRF) Bioenergy Project, S-103.2, is funded in part through the State of Maryland’s Water Quality Financing Administration program. Due to State funding, no WSSC Water green bond proceeds support this project.
Further details on these projects can be found by referring to the project links listed above..
WSSC Water will produce an annual report detailing how the green bond proceeds were used to finance the selected projects, a description of the selected projects, and details of the environmental benefits resulting from the projects. Such information will be posted to the Electronic Municipal Market Access (EMMA) website of the Municipal Securities Rulemaking Board, accessible at emma.msrb.org. This report will be posted, along with other WSSC Water filings, which will be made on or before the date eight months after the close of the fiscal year.
To find us on EMMA, set your search for the State of Maryland (MD), then search listing under the Washington Suburban Sanitary Commission.