Canada’s export credit agency, Export Development Canada (EDC), has issued a USD 1 billion green bond, making it the agency’s fourth green bond in U.S. dollars and sixth green bond overall.
This is also the first bond issued by EDC under its Sustainable Bond Framework, which was released in 2022 to enable greater financial support for initiatives that create a more equitable and sustainable world. The bond will attract capital for climate-focused investments and help progress EDC’s sustainable finance efforts.
“With the increasing demand for sustainable investments, EDC is an important source of financing for the innovative companies and projects that are addressing major global issues like the climate crisis,” said Scott Moore, Executive Vice-President, Finance and Chief Financial Officer, EDC.
He added, “With the issuance of this latest bond, we hope to bring more international investors to the table to further stimulate the growth of the green bond market and bring more capital to Canada to support climate investments.”
Proceeds of all EDC’s green bond offerings go toward EDC’s portfolio of green assets, including loans made to companies active in clean transportation, renewable energy, energy efficiency, pollution prevention and sustainable water management. To date, the proceeds of previous bonds have helped finance around 50 transactions across a range of sectors focused on mitigating climate change and minimizing environmental impact.