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Green bond proceeds fund environmentally-friendly infrastructure

By ReNew Canada 12:00PM February 03, 2017

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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.

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.

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