Nine years ago, we launched our Green Financing journey with a simple idea that together we could improve the quality and extend the useful life of multifamily properties by making more green property improvements. More than $50 billion in Green Bond issuances later, we are proud to share the results of our work with you in our first Fannie Mae Multifamily Green Bond Impact Report.
Every Green Mortgage Loan you deliver to Fannie Mae makes a difference and what may seem like a small change to a property's energy and water equipment can add up quickly to make a significant impact.
- From 2012 to 2017, Fannie Mae borrowers have committed to invest $208 million in capital improvements to retrofit over 2,000 properties;
- Over 550,000 units financed by Fannie Mae have been retrofitted or have green building certifications, allowing more renters and their families to live in greener, healthier apartment homes;
- 170,000 jobs were created or supported to build and/or to retrofit over 550,000 units in the Fannie Mae Green Bond issuances;
- These newly constructed and retrofitted green multifamily buildings contributed $7.2 billion in workers' income and $14.6 billion in gross domestic product (GDP);
- Every year Fannie Mae Green Rewards loans are projected to save more and more water: 5.9 billion gallons of water annually, which is equivalent to the amount of water consumed annually by nearly 54,000 American families; and
- Families and individuals are projected to have on average 10 percent lower utility bills annually, equivalent to approximately $145 on average per year.
We are proud to share these results with you. There is no other platform globally that delivers this kind of impact to borrowers, property owners, and tenants and we appreciate your partnership in this global movement to transform rental housing to be greener and healthier.
For two years, 2017 and 2018, Fannie Mae has been the largest issuer of Green Bonds in the world. Additionally, we were recently recognized by the Climate Bonds Initiative this year for the strong governance of our Green Bond Framework.
As the green financing market for multifamily continues to mature and attract other market participants, rest assured that we will continue to find ways to innovate and lead the market with initiatives like our new Fannie Mae Green Measurement and Verification Service, which provides a no-cost solution for borrowers to meet their annual reporting requirements and gain insights into their property's energy and water performance. For more information, please contact your deal team.
In 2019, we will continue to make a positive impact on the renters who live in the properties we finance and in the environment that we all call home. Thank you for your past partnership. We look forward to working with you on your next Green Mortgage loan.