Our Bond Markets and Racial Equity project aims to support bond issuers and market stakeholders who want to leverage municipal bond markets as a catalyst for changing racially inequitable conditions. Learn more
In 2022, we launched the Bond Markets & Racial Equity project, with funding from the Robert Wood Johnson Foundation, the guidance of a national experts advisory committee, and the collaboration of The National League of Cities, The Government Alliance on Race & Equity, the Equity and Excellence in Public Finance Program at The Milken Institute, Urban American City, Ideas and Action, The Urban Institute, and The Initiative for Responsible Investment at the Harvard Kennedy School. Learn More
We began this project with national focus groups led by our partners to understand how race and equity are being considered by governments and other market stakeholders in the issuance of municipal bonds. Our co-authored report with the National League of Cities, summarizes what we learned from governments, this report authored by our collaborators at the Initiative for Responsible Investment at the Harvard Kennedy School’s Center for Public Leadership found that racial equity is a particular topic of concern for responsible investors.
Our framework on bond markets and racial equity makes clear how practicing and realizing racial equity can be achieved in different ways across the different phases of the bond issuance process, and supports issuers in articulating, benchmarking, and strengthening their practices, and optimizing key outcomes and intents. The framework will be released sat the end of March in a session at Congressional City Summit, and you can view and request the framework using this form.
The Municipal Bond Racial and Social Equity Scorecard is a technology tool designed for our program, in partnership with the Urban Institute to help issuers and borrowers document, self-assess, and summarize the potential racial equity and social impacts of proposed bond issuances. The scorecard’s results can encourage issuances that promote racial and social equity, strengthen communities, and benefit residents. View the scorecard at this link.
We launched a new technical assistance and grant program to support issuers who want to strengthen, test, or pilot a novel racial equity strategy in municipal bond issuances or their infrastructure investments in partnership with the PFM Group Consulting LLC’s Center for Budget Equity & Innovation, PFM Financial Advisors LLC, and the Government Alliance on Race & Equity. View the program description at this link, and read about the issuers we selected for our first cohort at this link.
Join us for a webinar in partnership with the Urban Institute where we'll introduce the Municipal Bond Racial and Social Equity Scorecard, and hear from leaders in the City of Chicago who are in our program. To join us, register at this link
Join us for our session at the National League of Cities University in Atlanta for our in-person learning session, "Centering Racial Equity in Infrastructure, Capital Decisions & Municipal Bond Investments". To join us, register at this link.
Join us for our panel at the National League of Cities City Summit in Atlanta for our in-person session, "Centering Racial Equity in Infrastructure, Capital Decisions & Municipal Bond Investments". To join us, register at this link.