Freddie Mac has released its annual Impact Bonds report showing the results of efforts to support multifamily properties that address persistent housing challenges, particularly environmental and social issues.
“Transparency is a foundational component to our Impact Bonds program,” said Robert Koontz, head of capital markets for Freddie Mac Multifamily. “Through Freddie Mac’s annual Impact Bonds Report, we reiterate our commitment to reporting and summarize how we support rental housing that is green and affordable in communities that need it most. Each year, this report highlights our most impactful deals and how we are providing investors with innovative ways to support efficient and affordable housing.”
The report details the company’s efforts to issue billions of dollars in green, social, and sustainability bonds. Since 2019, Freddie Mac has backed $5 billion in green bonds that incentivize energy- and water-efficiency improvements at workforce housing properties. As a result, 94% of units supported by green bonds are affordable to families earning at or below 80% area median income. Additionally, tenants in these properties are projected to save an average of $255 per unit annually through lower utility costs thanks to the green improvements.