C-PACE

June saw Calvert Impact and PACE Equity launch Cut Carbon Notes, a finance program that is open to both institutional and retail investors.

The strategy is growing in the US, but it lacks a real catalyst to drive change.

Cities including New York, Los Angeles, Portland, Seattle, Pittsburgh and Washington, DC, have adopted strategies that will move them toward a carbon-neutral future.

C-PACE financing continues to gain prominence at a time when capital stacks are finding more difficulty achieving their desired funding status.

Facing a wall of maturities in a rising rate environment, borrowers need the one thing that could prove impossible to get.

After a volatile 2022, green lending is set to become higher priority in the coming year.

More borrowers are looking at C-PACE financing to ‘green’ their properties as the US government dials up its own focus on addressing climate change through August’s Inflation Reduction Act.

The mixed-use development includes C-PACE and pref equity components to complete the capital stack.

The Austin-based C-PACE provider, which was acquired in January by Athene Holdings, is seeing more owners looking to upgrade their properties to address sustainability or resiliency issues.

Investor demand, focused hires and regulation are pushing green lending up the priority list.