Today, the Government of Canada published its Green Bond Framework, in advance of an inaugural green bond issuance of $5 billion in fiscal year 2021-22. This inaugural issuance sets the path for future issuances, beyond this first highly-rated offering.
Green bonds will support Canada's green transition by offering investment opportunities in both climate and environmental measures, while also fostering the development of Canada's sustainable finance market.
Mobilizing private sector investment will play a critical role in Canada meeting its 2030 emissions reduction target, and in achieving net-zero emissions by 2050. New financing opportunities will speed up projects ranging from green infrastructure, clean tech innovation, nature conservancy, and more, while also growing Canada's economy and creating new, good-paying jobs across the country.
The Green Bond Framework is aligned with international green bond principles and market expectations. Eligible programs and expenditures will deliver significant environmental benefits, including lower greenhouse gas emissions, expanded clean transportation, and an increase in Canada's renewable energy production. The green bond framework could include measures that support the affordability of clean energy.
