Clean Rivers project is 2.6 billion USD project led by the DC Water utilities company in the District of Columbia (DC), USA (Adaptation Clearinghouse 2015). The project focuses on implementing large scale green and grey infrastructure upgrades including permeable pavements, green roofs, rain gardens, and rain barrels and downspout disconnections (DC Water 2015). The project is also aimed at supporting local economy and creating green jobs. DC Water has raised a part of the capital needed for financing this project by issuing green bonds. This was a landmark transaction, as it was utility’s first green bond and also the first century bond issued by a water/wastewater utility in the U.S.  The issuance achieved its “green bond” certification based on the project’s environmental benefits, which include improving water quality by promoting climate resilience and improving quality of life through promotion of biodiversity and waterfront restoration (DC Water n.d.).