LOS ANGELES — California has completed a deal to buy $100 million of World Bank green bonds to fight climate change, State Treasurer Bill Lockyer announced last week.

Proceeds will go toward financing renewable energy and other non-nuclear projects around the globe, he said.

"These bonds are an attractive investment for California and its taxpayers," Lockyer said in a statement released Friday. "We're earning an excellent return, strengthening our portfolio and backing our environmental policies with money in the fight against global warming."

The state will receive a 0.39% yield on the bonds, which will mature in Aug. 2015. The treasurer's office said the yield compares favorably to Friday's rate on two-year U.S. Treasury notes, which was 0.30%.

The bonds were purchased by the state's Pooled Money Investment Account, which invests taxpayer money to help manage the state's cash flow and solidify the financial strength of local governments and schools. The fund is managed by the treasurer's office.

At the end of July, the PMIA portfolio totaled $55 billion.

This is Lockyer's third deal to buy World Bank green bonds. In April 2009, the California treasurer's office became the first U.S. buyer of the bonds with a $300 million investment. In Dec. 2011, the state made its second purchase, in a $400 million deal.

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