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Ontario Raises $750 Million with Second Green Bond

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Ontario Raises $750 Million with Second Green Bond

Proceeds to Finance Eight Infrastructure Projects Benefitting Environment

Ministry of Finance

Ontario has successfully issued its second green bond, raising $750 million to support environmentally friendly, low-carbon infrastructure projects.

Proceeds from the bond will help fund eight projects, improving transit, education, health care and creating jobs in communities across Ontario.

Ontario is making the largest infrastructure investment in the province's history - more than $134 billion over 10 years, which is making 110,000 jobs possible every year across the province, with projects such as roads, bridges, transit systems, schools and hospitals.

Green bonds help support Ontario's efforts to fight climate change, alongside initiatives including the province's Climate Change Strategy, working with industry and other partners on the design of a cap and trade program, ending coal-fired electricity generation and electrifying and improving Ontario's commuter rail network.

Utilizing innovative financing tools like green bonds is 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.

Quick Facts

  • Pioneered by the World Bank in 2008, green bonds are a tool to raise capital for a project with specific environmental benefits.
  • This set of Ontario green bonds was issued globally, primarily to institutional investors.
  • Altogether, 52 investors participated in the trade, including investors with green mandates and/or United Nations-supported Principles for Responsible Investment (PRI) signatories representing 70 per cent of overall sales. The PRI is an international network of investors’ working to incorporate sustainability issues into their investment decision making and ownership practices.
  • On January 22, 2016, Ontario successfully priced a $750 million bond with a maturity date of January 27, 2023.

Additional Resources


“Issuing Ontario Green Bonds helps grow our economy. As global financial markets seek new and innovative opportunities to invest in socially responsible initiatives, many are turning to Ontario, which is already the top destination in North America for foreign direct investment.‎ Ontario's green bond program attracts more strategic investment to increase our competiveness and create jobs in our province. It funds the construction of specific infrastructure projects that improve our environment and supports a cleaner, more sustainable future for all Ontarians.”

Charles Sousa

Minister of Finance

“Effectively combating climate change requires smart investments in environmentally friendly infrastructure projects such as improving energy efficiency and building more public transit. Green bonds give all Ontarians the opportunity to invest in climate actions that will protect the environment, strengthen the economy and improve everyday life.”

Glen R. Murray

Minister of the Environment and Climate Change

“Green bonds build on our track record of infrastructure investments and support this government’s commitment to priority transit projects like the Eglinton Crosstown, York Viva Bus Rapid Transit and GO Regional Express Rail. These investments will help to manage congestion, connect people to jobs and improve the economy and residents’ quality of life.”

Steven Del Duca

Minister of Transportation

“Investing in environmentally friendly hospital infrastructure projects through green bonds will grow Ontario’s communities in a meaningful way. Green bonds will have a positive impact on Ontario’s families now and in the future through smart and innovative investments.”

Dr. Eric Hoskins

Minister of Health and Long-Term Care

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