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Home > By DEPARTMENTS > Finance and Financial Management for Green Business > Investment and Funding for Green and Sustainable Programs and Business Development

The Capital Markets Partnership for Green Building Financing

Sustainable Investment & SMBS are expected to add an estimated $1 trillion/yr. to the global economy after five years based on quantified benefits and successful precedent.

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The Capital Markets Partnership Launches Sustainable Mortgage-backed Securities Backed by Green Building Motgages

The Capital Markets Partnership in Washington has introduced green or sustainable mortgage-backed securities, backed by "green building" mortgages. The partnership has the backing of San Francisco Mayor Gavin Newsom, California Treasurer Bill Lockyer and Robert Congel, chief executive of The Pyramid Cos., a commercial real estate developer based in Syracuse, N.Y.

By 2008, Capital Markets Partnership members included Wachovia, Citi, JPMorgan Chase, Bank of America, Wells Fargo and Goldman Sachs who together, committed over $12 billion in reducing their environmental footprint and operating expenses by greening / certifying their buildings.

Widespread market acceptance is the key to pollution reduction.

Priorities include: Stimulating the global economy & promoting energy and national security

Providing higher valued collateral promoting innovation & investor confidence

Stopping imminent irreversible dangerous climate change

Greatly enhancing global sustainability

Spearheading the effort is Michael Italiano, president and chief executive of the Institute for Market Transformation to Sustainability and co-founder of the U.S. Green Building Council, both of Washington.

In July 2008, the U.S. Conference of Mayors adopted a Resolution of Support for the Sustainable Investment Initiative of the Capital Markets Partnership. It was sponsored by Gavin Newsom, Mayor of San Francisco, Richard Daley, Mayor of Chicago; Chuck Reed, Mayor of San Jose; Manuel A. Diaz, Mayor of Miami and President of the U.S. Conference of Mayors.

"The decision to develop sustainable MBSs came seven years ago due to the successful introduction of previous building standards, which were then mandated by the major rating agencies for all mortgage-backed securities. This resulted in 95% U.S. market penetration in under five years," Mr. Italiano said.

San Francisco Mayor Gavin Newsom, a Capital Markets Partnership leader and Officer says, "Like San Francisco, many other cities that have adopted LEED are extending it to the private sector. Wall Street's Sustainable Investment Initiative makes private sector LEED requirements even better for business, and I know San Francisco's business leaders are enthusiastic about Wall Street's investment support."

CMP is a nonprofit coalition of investors, investment banks, insurers, city, state and federal government, countries, and NGOs. Key members include: The US Conference of Mayors, JPMorgan Chase, Citi, Bank of America, Wells Fargo, Wachovia, Allianz, Fireman's Fund, Goldman Sachs, EPA, U.S. Treasury, Federal Home Loan Bank, United Kingdom, Fannie Mae, USGBC, States of California, New Jersey and New York, Destiny USA and Market Transformation to Sustainability (MTS).

The Sustainable Investment Initiative

The Sustainable Investment Initiative is facilitating both equity and debt investment opportunities in certified green buildings and sustainable products through these Underwriting Standards. Based on successful precedent and quantified benefits, investment actions taken by the capital markets are expected to stimulate the economy, combat climate change, and counter long term rising conventional energy costs. The Initiative's consensus made, Underwriting Standards cover buildings and products across the global supply chain. It affects building construction and related products, one of the world's largest industries.

These Underwriting Standards are based on the Capital Markets Partnership's completed due diligence with investment banks, rating agencies and the investor community, which concluded that green buildings and certified sustainable products are more valuable than conventional. This provides the basis for investment products with higher value collateral, reduced risk, while increasing investor confidence and liquidity.

The Capital Markets Partnership expects 70% to 90% penetration in five years, adding almost $800 billion a year to the U.S. economy.

The Initiative's Sustainable Investment Underwriting Standards were made public at the July 2008 meeting at Wachovia. They provide a CMP Green Value Score(C) for buildings, homes and portfolios.

CMP Green Value Score

A nonprofit charity like the Partnership consisting of investment banks, investors and government, is an excellent way to transparently disclose value and increase investor confidence in the due diligence through an accredited and audited consensus process.

Green Building Value Rating System©

  • Creating Economic Stimulus While Stopping Climate Credit Risk / Irreversibility
  • High valued collateral
  • Innovation and good will
  • Enhanced liquidity
  • Reduced risk
  • No climate credit risk—stop dangerous climate change
  • Improved investor confidence
  • Near term economic stimulus
  • Cheaper cost of capital

Complete program information is available from the ANSI website for a fee.

Capital Markets Partnership
1511 Wisconsin Avenue, NW
Washington, DC 20007
202-338-3131
Email MTS@sustainableproducts.com
MTS.sustainableproducts.com



Edited by Carolyn Allen, owner/editor of California Green Solutions
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