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Ontario issues second $750M green bond to help fund infrastructure projects

Eglinton Crosstown, GO Transit to be among recipients of funds



Artist rendering of Toronto's Eglinton Crosstown, one of the major ongoing Ontario infrastructure projects. PHOTO: CNW Group/Canadian Council for Public-Private Partnerships

Artist rendering of Toronto’s Eglinton Crosstown, one of the major ongoing Ontario infrastructure projects. PHOTO: CNW Group/Canadian Council for Public-Private Partnerships

TORONTO—The government of Ontario has successfully issued its second green bond, raising $750 million to help pay for a range of infrastructure projects that also contribute to the fight against climate change.

Priced late last month, the bond will mature at the beginning of 2023, providing the province with funds to invest in transit, health care and education in the interim.

According to the government of Ontario, the following projects will receive funding from the issue:

  • Eglinton Crosstown LRT (Toronto): This project will receive up to $402 million to help build the LRT, such as constructing electric powered transit vehicles that produce near-zero emissions.
  • York VivaNEXT Bus Rapid Transit Expansion (York Region):This project will receive up to $100 million to improve access to public transit which will contribute to decreasing greenhouse gas emissions.
  • GO Transit Regional Express Rail: This project will receive up to $200 million to help reduce greenhouse gas emissions by using electricity instead of diesel in trains and LEED gold-level certification for all Regional Express Rail stations and facilities.
  • Sheridan College Hazel McCallion Campus Expansion (Mississauga): This construction project will receive up to $68 million and the new building will be one of the most energy-efficient academic buildings in North America.
  • St. Joseph’s Health Care West 5th Campus (Hamilton): This new campus will receive up to $14 million and was constructed to achieve LEED gold-level certification.
  • St. Joseph’s Healthcare (London and St. Thomas): Both buildings will receive up to $5 million in total and were constructed to achieve LEED gold certification and incorporate several environmentally responsible features.
  • Waypoint Centre for Mental Health Care (Penetanguishene): This new facility will receive up to $2 million and was constructed to achieve LEED gold-level certification through focus on healthy indoor environments and the efficient use of energy, water and other resources.
  • Centre for Addiction and Mental Health (Toronto): The redevelopment of the Centre for Addiction and Mental Health Queen Street site will receive up to $2 million and was designed to achieve LEED gold-level certification that will reduce energy costs by 27 per cent and include green spaces.

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