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Ontario to Issue Second Green Bond

Archived Bulletin

Ontario to Issue Second Green Bond

Proceeds will Fund Environmentally Friendly Infrastructure Projects

Ministry of Finance

Ontario plans to issue its second green bond -- expected to be a minimum of $500 million in size -- by March 31, 2016. 

Sales of the bond will fund environmentally friendly infrastructure projects while supporting job creation and strengthening the economy in communities across Ontario. The bonds will also capitalize on the Province's ability to raise funds at low interest rates.

Pioneered by the World Bank in 2008, green bonds are a tool to raise capital for projects with specific environmental benefits. Ontario's green bonds are issued globally, primarily to institutional investors. Retail investors can purchase the bonds through financial institutions and brokers.

In 2014, Ontario became the first province in Canada to develop and sell green bonds, encouraging investment in sustainable projects and attracting new investors. There was strong demand for Ontario's first green bond, with orders approaching $2.4 billion for $500 million in bonds from investors in Canada, the United States, Europe and Asia.

Greens bonds are part of the government's plan to build Ontario up and deliver on its number-one priority to grow the economy and create jobs. The four-part plan includes investing in people's talents and skills, making the largest investment in public infrastructure in the province's history, creating a dynamic, supportive environment where business thrives and building a secure retirement savings plan.

This bulletin is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities in the United States will be made by means of a prospectus that may be obtained from the province and that will contain detailed information about the province.


Quick Facts

  • Ontario’s green bonds have the full faith and credit of the province of Ontario and rank equally with Ontario’s other bonds.
  • The Eglinton Crosstown LRT line, scheduled for completion in 2021, was the first project to receive funding from the inaugural green bond issue in 2014.
  • Ontario’s Green Bond Framework outlines project categories eligible for consideration for green bonds. Projects in the following sectors will generally be considered eligible: clean transportation, energy efficiency and conservation, clean energy and technology, forestry, agriculture and land management, climate adaptation and resilience.

Additional Resources


“Good environmental policy is good economic policy. The popularity of our first release of green bonds demonstrated that investors are eager to support environmentally friendly infrastructure projects. The government is committed to tackling climate change and supporting trusted investments through initiatives like green bonds that help meet our environmental goals and also foster a competitive business climate to help grow our economy.”

Charles Sousa

Minister of Finance

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