Help protect the planet by changing the way we build
The wide variety of properties in the Cut Carbon portfolio generate significant energy savings and carbon emissions reductions across 11 states. Together, these buildings create social and environmental impacts in their local communities.
The program incentivizes building developers to meet the rigorous CIRRUS™ Low Carbon Standard and CIRRUS™ Zero Carbon Standard that was developed by PACE Equity and the New Buildings Institute to raise the bar on commercial energy efficiency.
Impact reporting is conducted at the individual project- and portfolio- level and all buildings are enrolled in a utility monitoring service to track actual utility consumption and resulting carbon emissions. Second party opinions and reporting on the alignment with Impact Principles, Green Bond Principles, and Sustainable Development Goals is provided to investors.
$400 million. Most recent offering of:
Note: Different Classes have materially different risks. In certain situations, losses are first borne by Class C, then Class B, and lastly by Class A. See prospectus for further details.
Finance sustainability upgrades for commercial buildings, with the objective of reducing carbon emissions
Certain specific Commercial Property Assessed Clean Energy (“CPACE”) bond (“CPACE Bonds”) or assessment (“CPACE Assessments”) instruments that provide low-cost, long-term funding for energy efficiency improvements to commercial, industrial, multi-family, and non-profit buildings in the United States.
$1000
Fixed interest rates for each class set at time of issuance, please refer to current pricing supplement for details
Final legal maturity of 12/15/2053. The expected weighted-average life, based on a 6% constant prepayment rate assumption to a 10% clean-up call option, is 8.48 years. Please see prospectus supplement for further details.
Calvert Impact Climate, Inc., is the issuer of the Cut Carbon Notes®. The Cut Carbon Notes® are an asset-backed security and will be issued by, and payable exclusively from the assets of, Calvert Impact Climate, Inc., a special purpose vehicle. The only material asset of Calvert Impact Climate, Inc., is the Asset Pool. If the Asset Pool does not produce sufficient cash flow, investors may suffer a loss.
Calvert Impact, Inc. is the Sponsor of the Cut Carbon Notes®. The Sponsor is responsible for (i) structuring the Notes, (ii) selecting the CPACE Assets and arranging their transfer to the Issuer, and (iii) retaining a first-loss position (an “Eligible Risk Retention Interest”) in the Notes. The Notes are not obligations of the Sponsor or backed by the assets of the Sponsor or any other affiliate of the Issuer.
Fixed Income
Impact Reporting is provided semi-annually, including portfolio-level impact data, as well as alignment with the Green Bond Principles, The Impact Principles, and other relevant industry standards.
Calvert Impact Climate, Inc., a 501(c)(3) nonprofit and a subsidiary of Calvert Impact, Inc., offers the Cut Carbon Note®. The Cut Carbon Note® is subject to certain risks, is not a mutual fund, and is not FDIC or SIPC insured. Past performance is no guarantee of future results. This is not an offer or solicitation to buy our securities, the offering is made solely by the applicable prospectus (including any applicable prospectus supplement and pricing supplement), and any decision to invest should only be made after reading these documents which details the terms, conditions, and risks the Cut Carbon Note® is subject to, including risk of possible loss of the amount invested. Payment is dependent on Calvert Impact Climate's financial condition at the time payment is due. The Cut Carbon Note® is not registered with the SEC, is only offered and sold in states where authorized, and may be subject to specific state eligibility requirements.
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