OTTAWA—Export Development Canada (EDC) today announced its first Green Bond in the principal amount of US$300 million.
The bond will fund loans made to companies active in the preservation, protection or remediation of air, water or soil, or the mitigation of climate change.
The Centre for International Climate and Environmental Research (CICERO), an independent research centre associated with the University of Oslo in Norway, endorsed EDC’s Green Bond Framework
“EDC’s Green Bond program is an area where the interests of investors and EDC converge, one that we’re looking to develop and grow into a regular part of our funding program,” said Ken Kember, Senior Vice-President, Finance, and Chief Financial Officer. “The Green Bond is a nice balance to EDC’s corporate focus on clean technology, an area that will feed new Green Bond issues in years to come.”
Examples of the transactions and projects related to EDC’s Green Bond program include:
- IMPSA (Industrias Metalurgicas Pescarmona), a renewable energy company in Argentina
- Cascades Inc.’s recycling and recovery operations in the U.S.
- Noble Environmental Power, a renewable energy firm in the U.S.
- GoldLinQ Consortium, public ground transport in Australia
- Angel Trains Ltd., public ground transport in the U.K.