As colleges and universities develop and implement sustainability plans to reduce their carbon footprint, there remains the question as to how to fund these sustainability plans. Some colleges and universities look to federal and state grants for a portion of this funding and some look to donors. In addition to these options, there is a new development in the debt market which could also lead to lower interest rates for issuers as a result of increased demand: ESG bonds and Green bonds.
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Treasury Issues Final Rule on Expenditure of State and Local Coronavirus Recovery Funds
The United States Department of the Treasury recently published its Final Rule implementing the Coronavirus State and Local Fiscal Recovery Funds (SLFRF) program established by the American Rescue Plan Act of 2021 (ARPA). The Final Rule adopts with amendments the Interim Final Rule published by Treasury on May 17, 2021. The Final Rule updates the rules governing the expenditure of funds received by public entities under the program.
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