BMO proud to support first Government of Canada Green Bond transaction as joint-lead manager
BMO is proud to have acted as a joint-lead manager for the Government of Canada’s inaugural Green Bond transaction, a landmark achievement.
Nearly 100 investors participated in Canada’s debut transaction, with final demand of over C$11 billion. 45 per cent of the transaction was distributed internationally, illustrating the strong appetite for CAD green bonds globally and a true testament to investors’ interest for Canada’s AAA credit rating.
The C$5-billion transaction demonstrates Canada’s environmental leadership, ensures government expenditures align with Canada’s ESG goals and principles, and acts as a catalyst towards the continued development of the sustainable finance market in Canada. The Government of Canada Green Bond Framework, developed in accordance with the International Capital Market Association’s (ICMA) Green Bond Principles (2021), defines the criteria for the use of proceeds from green bonds as those projects that will facilitate the transition to a low-carbon economy and contribute to the climate goals set out by the government.
“We’re proud to be a joint lead-manager on the issuance of the first Government of Canada Green Bond,” said Jonathan Hackett, Head, Sustainable Finance and Co-Head, Energy Transition Group, BMO Financial Group. “The establishing of a green financing program by the Government will help to accelerate sustainable finance adoption in Canada and is strongly aligned with BMO’s Climate Ambition and our Purpose to Boldly Grow the Good in business and life.”