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 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.