September 4 (Renewables Now) - Environmental nonprofit organisation The Conservation Fund (TCF) said on Tuesday it is launching a sale of up to USD 150 million (EUR 136.2m) worth of green bonds.
Funds from the placement of the taxable securities will go mainly to support the so-called Working Forest Fund conservation initiative, which was set up to mitigate climate change effects and protect natural forest landscapes by promoting the introduction of environmental goals and sustainable economic development.
Under the offering, TCF will place between USD 100 million and USD 150 million of green bonds that will be issued by itself and its subsidiary Sustainable Conservation Inc. The solar underwriter of the transaction is Goldman Sachs & Co LLC.
"By combining the power of the marketplace with the passion of philanthropy we aim to make a real difference in our nation's efforts to protect forests, address climate change and lift up rural economies," said Larry Selzer, CEO of The Conservation Fund.
(USD 1.0 = EUR 0.908)