Canada prices seventh green bond, raising C$2 billion

Why it matters

The federal government priced its seventh Canadian-dollar-denominated green bond, raising C$2 billion (about US$1.4 billion) in a new 10-year offering. The Department of Finance said investor demand was strong, with a final order book above C$3.6 billion and 44% of buyers being environmental and socially responsible investors.

It is the seventh issuance since the green bond program launched in March 2022, following a C$2 billion 10-year bond in February. Ottawa has now raised C$19.5 billion in green bonds.

Proceeds will fund green infrastructure, nature conservation and renewable energy projects as part of Canada's strategy to reach net-zero emissions by 2050. The government describes green bonds as a tool to mobilize private capital for clean growth and jobs.