Canada Raises $2 Billion with New 7-Year Green Bond

The Government of Canada has announced the issuance of a new 7-year green bond, successfully raising $2 billion. This marks the third such issuance involving Canadian-dollar-denominated green bonds, as stated by the Department of Finance Canada.

The new bond follows previous issuances, including a 10-year, $4 billion bond in February 2024, which saw an increase of $2 billion in October 2024. Prior to these, Canada launched its green bond program with a 7.5-year bond issue worth $5 billion in March 2022.

Proceeds from these bonds are allocated to environmental and sustainability projects across Canada as outlined by the Department of Finance Canada. The specific projects targeted by this latest bond have yet not been specified in the announcement.