Praxis Mutual Funds strives to create meaningful impact on the world through its stewardship investing philosophy by purchasing impact bonds in the Praxis Impact Bond Funds. One such bond issued last year could have a large impact by modernizing infrastructure in the heartland of the United States and beyond.
CenterPoint Energy is a utility company serving over 7 million customers in Indiana, Louisiana, Minnesota, Mississippi, Ohio and Texas. In March 2023, it issued a $300 million green bond for projects that will help address social inequalities and demonstrate environmental benefits.
The use of proceeds for CenterPoint’s green bond potentially include:
- Energy-efficient projects within the company’s current portfolio related to equipment systems, operational improvements, and other sustainable maintenance.
- Green building construction, development and operational maintenance expenditures
- Acquisitions of new, existing or refurbished buildings that have received LEED (Leadership in Energy and Environmental Design), ENERGY STAR and other industry-leading certifications.
CenterPoint Energy aims to invest in multiple projects to modernize its infrastructure and develop low-carbon technologies to achieve its sustainability goal. For social impact, CenterPoint is actively engaged in bolstering local communities through investments in emergency preparedness, educational initiatives and environmental conservation efforts.
For more information about CenterPoint's sustainable financing framework, visit Sustainable Financing Framework (centerpointenergy.com)
The Praxis Impact Bond Fund invests in many bonds that finance impactful projects around the world. These bonds receive competitive financial returns, and have a clear, direct impact on the world. Investments include renewable energy projects, green bonds, low-income housing, education, social bonds and more.