Community Capital Management Impact Investment Chosen as Sustainability Bond of the Year by Environmental Finance
Ft. Lauderdale, FL, June 15, 2023: Community Capital Management, LLC (CCM), a leading impact and environmental, social, and governance (ESG) investing manager, is excited to announce one of its impact investments, Preservation of Affordable Housing (POAH), is the recipient of the 2023 Sustainability Bond of the Year – US Muni by Environmental Finance. Environmental Finance is an online news and analysis service established in 1999 to report on sustainable investment, green finance, and the people and companies active in environmental markets.
POAH is a Boston-based nonprofit organization that preserves, creates, and sustains affordable rental homes for low- and moderate-income families, seniors, and individuals. It is one of the largest nonprofit affordable housing developers and owners in the country. In 2022, POAH issued a $75 million sustainability bond to further its mission to provide affordable, healthy homes that support economic security, racial equity, and access to opportunity for all. This transaction represents the first time POAH has accessed the public capital markets with bond proceeds being used to finance and refinance mission-aligned affordable housing projects that incorporate resident services as well as energy and water efficiency or renewable energy features.
“The bond proceeds have quickly expanded POAH’s mission impact – they represent more resources to advance our work as well as flexibility in a challenging economic environment,” said Allison Adduci, POAH’s chief financial officer.
“We are so pleased that POAH received this well-deserved award and to see nonprofit organizations tapping new pools of capital in the public market for mission-aligned community activities and programs,” said Alyssa Greenspan, chief executive officer and president of CCM. “CCM purchased $5.8 million of the issue, which we earmarked to multiple impact investor advisors and clients in our flagship mutual fund and in separately managed accounts.”
“As an impact wealth manager, we work with clients to build customized, well-diversified portfolios with a focus on four thematic areas that allow clients to have impact with their wealth,” said Lori Choi, CFA®, a partner and senior wealth manager at Veris Wealth Partners. “We are excited this investment has been earmarked by CCM in some of our client portfolios and that it has received this well-earned recognition for sustainability bond of the year.”
“With much media attention over the last year on anti-ESG and greenwashing, this is a great example of how CCM’s impact and ESG research methodology centers around transparency and reporting,” said Jessica Botelho, CCM’s director of impact and CRA research. “We have a well-defined definition of our impact and ESG policies and processes, which for fixed income is primarily based on our use of proceeds analysis. Additionally, the issuer must be clear on the intent of bond proceeds and the project selection criteria as well as the process, future metrics, and/or reporting. Finally, every investment must align with one or more of our impact themes. Ongoing monitoring is critical, and we have created a proprietary internal impact model and reporting system where we track and monitor the positive impact and ESG attributes of our investments and report back to clients on these metrics and outcomes.”
Community Capital Management, LLC
Community Capital Management, LLC (CCM) is an investment adviser registered with the Securities and Exchange Commission. CCM was founded in 1998 and manages $4 billion in assets. The firm’s mission seeks to deliver superior risk-adjusted returns through investment strategies that contribute to positive environmental and social outcomes. For more information, please visit: www.ccminvests.com.
This material is not considered an endorsement or testimonial of the advisory services of CCM or the advisory experience with CCM or its supervised persons.
Community Capital Management, LLC (CCM) is an investment adviser registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940. Registration as an investment adviser does not imply a certain level of skill or training. The verbal and written communications of an investment adviser provide you with information you need to determine whether to hire or retain the adviser. Past performance is not indicative of future results. CCM has distinct investment processes and procedures relating to the management of investment portfolios for institutional clients. The firm’s strategies are customized, rather than model-based, and utilize an innovative approach to fixed income and equity by combining the positive societal outcomes of impact and environmental, social, and governance (ESG) investing with rigorous financial analysis, an inherent focus on risk management, and transparent research. Bonds are subject to interest rate risk and will decline in value as interest rates rise. Stocks will fluctuate in response to factors that may affect a single company, industry, sector, or the market as a whole and may perform worse than the market. Different types of investments involve varying degrees or risk, and there can be no assurance that any specific investment will either be suitable or profitable for a client’s investment portfolio. A sustainable investment strategy that incorporates ESG criteria may result in lower or higher returns than an investment strategy that does not include such criteria. Impact figures mentioned are approximate values. Opinions, estimates, forecasts, and statements of market trends are based on current market conditions and are subject to change without notice. third party links, trademarks, service marks, logos and trade names included in this content are the property of their respective owners. The inclusion of a third party link is provided for reference and does not imply an endorsement or, association with, or adoption of the site or party by us. Acceptance of this material constitutes your acknowledgement and agreement that the Advisor does not make any express or implied representation or warranty as to the accuracy or completeness of the information contained herein and shall have no liability to the recipient or its representatives relating to or arising from the use of the information contained herein or any omissions there from. For a full list of relevant disclosures, please visit https://www.ccminvests.com/regulatory-disclosures/