Bonds & Climate Change: Green Finance State of the Market – 2018

The 2018 State of the Market report marks the seventh annual stocktake of green bonds and green finance in Canada, produced in partnership with the Climate Bonds Initiative.

2018 Highlights:

  • 2018 annual Canadian green bond issuance reached C$5.5 billion, just shy of 2017’s all-time high of C$5.6 billion.
  • Canada placed 10th globally in 2018 issuance and 9th globally in cumulative issuance with more than C$15.2 billion.
  • Canada’s largest ever green bond was issued by Canada Pension Plan Investment Board (CPPIB) (C$1.5 billion). It is the first ever green bond from a pension fund globally.
  • Sub-national governments continued to drive issuance, with the Province of Ontario as Canada’s largest issuer.
  • Renewables and transportation dominated the use of proceeds, with cumulative allocations of 32% and 30% respectively.

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