NY/NJ ties green bond with Rotterdam

Part of US Environmental Protection Agency-sponsored initiative “International Sustainable Ports and Carriers Partnership”, the agreement encourages ports from the US to form partnerships with the international community “to advance mutual goals for improving the environment”.

The Port of NY/NJ has already purchased “and preserved” parcels of environmentally sensitive property, and is investing $530m to build new ship-to-rail facilities at port terminals to reduce the dependence on trucks to move cargo, among other environmental improvements.

The port has also confirmed that it is to purchase additional land at Bayonne to cater for booming business at its terminals.

A 153 acre, $50.5m parcel of land will add 3,000 acres to the port, and will be for the most part committed to future auto throughput.