Green Bond Proceeds to Fund Environmentally Friendly Infrastructure Projects
Ontario Raises $800 Million with Third Green Bond
Ontario has successfully issued its third green bond, raising $800 million to help build clean transportation and environmentally friendly infrastructure projects in communities across the province.
Proceeds from the bond will support 12 projects, including:
- St. Joseph's Healthcare in Hamilton, targeted to achieve LEED® gold-level certification
- ErinoakKids Centre for Treatment and Development in Brampton, Mississauga and Oakville, expected to achieve LEED® silver-level certification
- York VivaNEXT Bus Rapid Transit Expansion in York Region
- GO Transit Regional Express Rail in the Greater Toronto and Hamilton Area
Green bonds help Ontario's efforts to fight climate change and build on initiatives such as setting a cap on pollution, ending coal-fired electricity generation, and electrifying and improving the province's commuter rail network.
Building green, environmentally friendly infrastructure is part of Ontario's plan to create jobs, grow our economy and help people in their everyday lives.
- Ontario is making the largest infrastructure investment in hospitals, schools, public transit, roads and bridges in the province's history. To learn more about what's happening in your community, go to Ontario.ca/BuildON.
- Pioneered by the World Bank in 2008, green bonds raise capital for projects with specific environmental benefits.
- In 2014, Ontario became the first province in Canada to develop and sell green bonds, encouraging investment in environmentally friendly projects and attracting new investors.
- Ontario is the largest issuer of Canadian dollar green bonds, with three outstanding green issues totalling $2.05 billion.
- On January 26, 2017, Ontario successfully priced a $800 million bond with a maturity date of January 27, 2023.
“Ontario green bonds are a smart and innovative tool to build a greener, more competitive province. The proceeds help fund environmentally and socially responsible infrastructure projects that reduce our carbon footprint, grow our economy, improve our quality of life and pave the way to a sustainable future for all Ontarians.”
“Fighting climate change takes innovation and action from all parts of our society. It means investing in public transit and improving energy efficiency to reduce our dependence on fossil fuels that cause greenhouse gas emissions. Green bonds give people the opportunity to directly invest in climate actions that will protect the environment, help us transition to the low-carbon economy and improve everyday life.”
Glen R. Murray
“We have received a strong mandate from the people of Ontario to invest in transit and transportation infrastructure across the province that will reduce congestion and get people where they need to be sooner than ever before. Green bond proceeds help us deliver on this goal by funding the critical transportation infrastructure that people rely on every single day.”