HSBC, Bank of the West and Fannie Mae are among those offering green mortgage bonds, financing commercial clients’ efforts to rein in carbon emissions and developing other novel products that help customers tackle environmental challenges.

The funds will be used to support housing, job training and aid for small businesses in communities that have been disproportionately affected by the pandemic.

The Community Preservation Corp. says its inaugural sustainability offering is the single largest bond sale by a community development financial institution.

The deal, issued through the California Housing Finance Agency, is the first multifamily tax-exempt deal to qualify for the GSE's Green Rewards program.