Canada Leads in Greenbond Deals as 2019 Issuance Hits $9.6B
Issuance of Green Bonds by Canadian-based and supranational organizations has reached $9.6B this year, surpassing the $7.2B mark of 2018. While the governments of Ontario and Québec were the single largest block of issuers in 2018, the financial sector, including financial institutions and pension funds, have taken the lead in 2019. Two deals raising a total of $1.4B were completed this year by Canadian banks (RBC and Scotiabank). This compares to a single $600M deal in 2018 done by Manulife.