The Domini Social Bond seeks to have a positive impact across multiple key themes, including affordable housing, education and climate mitigation. In the second quarter, securities Domini characterizes as “high impact” represented 14.7% of the Fund’s total portfolio, including the following two examples, which were added to the portfolio during the quarter.
In the second quarter, the Fund purchased a bond issued by the Indiana Finance Authority. Proceeds from this bond will finance construction of a new public mental health care facility, the Neuro-Diagnostic Institute and Advance Treatment Center, for medically underserved populations in the state. Within the last 50 years, Indiana’s supply of inpatient psychiatric beds declined significantly from 6,000 to 800 in 13 state-operated facilities for patients with mental health and developmental disabilities. The new facility will be Indiana’s flagship mental health facility for those with mental illness and addictions.
The Fund holds a general obligation green bond issued by the State of Massachusetts. Proceeds from this bond are used for climate adaptation and mitigation, including storm water management, energy efficiency and conservation in state buildings, open space protection, habitat restoration and preservation, and environmental remediation and river revitalization projects throughout Massachusetts. In 2013, Massachusetts became the first state to issue a green bond. The state has provided increasingly transparent reports each year to allow investors to measure the environmental impact of these issuances.