Canada to Issue Third Green Bond
Ottawa, February 18, 2025 – The Government of Canada announced today that it will issue its third green bond in the coming months. The bond will be used to finance projects that support Canada’s transition to a low-carbon economy.
“Green bonds are an important tool for attracting investment in projects that fight climate change and build a more sustainable future,” said Finance Minister Chrystia Freeland. “Canada is a leader in the green bond market, and we are committed to continuing to use this innovative financing tool to support our climate goals.”
The Government of Canada has issued two green bonds to date, in 2016 and 2019. The proceeds of these bonds have been used to finance a range of projects, including renewable energy, energy efficiency, and clean transportation.
The third green bond will be issued in accordance with the International Capital Market Association’s Green Bond Principles. These principles set out the criteria that green bonds must meet in order to be considered environmentally sustainable.
The Government of Canada will use the proceeds of the third green bond to finance projects that meet the following criteria:
- Contribute to reducing greenhouse gas emissions
- Promote the development of renewable energy sources
- Support the adoption of energy-efficient technologies
- Protect and restore the environment
Detailed information on the eligible projects will be provided in the bond prospectus.
The Government of Canada expects to issue the third green bond in the second quarter of 2025. The bond will be offered to investors through a syndicate of banks.
Additional Information
- The Government of Canada’s Green Bond Framework is available at: www.canada.ca/en/department-finance/programs/debt-management/sustainable-financing.html
- The International Capital Market Association’s Green Bond Principles are available at: www.icmagroup.org/green-social-and-sustainability-bonds/green-bonds/green-bond-principles/
- For more information on the Government of Canada’s green finance initiatives, please visit: www.canada.ca/en/department-finance/programs/sustainable-finance.html
Canada to issue third green bond
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