Canada to launch fifth green bond issuance

From: Department of Finance Canada

News release

October 8, 2025 – Ottawa, Ontario – Department of Finance Canada

The Government of Canada is launching its fifth issuance of Canadian-dollar-denominated green bonds this week, subject to market conditions.

Green bonds unlock private financing to speed up projects such as green infrastructure and nature conservation. Projects funded by green bonds will grow Canada’s economy and create jobs across the country. Mobilizing capital through green bonds is an important tool of Canada’s strategy to achieve net-zero emissions by 2050.

For this issuance, the government plans to issue a new 30-year green bond accompanied by a re-opening of the 7-year bond that was issued in February 2025, which saw robust demand and a final order book of over $3.1 billion.

Canada’s green bond program, launched in March 2022, is supporting the growth of the sustainable finance market in Canada, and around the world, and advancing Canada’s investments in clean growth, renewable energy, climate action, and environmental protection.

The Government of Canada’s green bonds will meet demand from investors seeking green investment opportunities backed by Canada’s AAA credit rating, while contributing to the development of a stronger sustainable finance market in Canada.

Quick facts

  • This week’s offerings add to the $13 billion of Canada green bonds issued since March 2022 under four previous transactions that issued bonds with maturities from 7 to 10 years. This week’s transaction is the government’s first offering of a 30-year maturity green bond. 

  • In June 2025, the government released the Green Bond Allocation and Impact Report 2023-24. Canada releases allocation and impact reports for investors and interested parties on an annual basis until full allocation of the net proceeds is achieved. These allocation reports detail the green eligible expenditures funded with the proceeds of each bond, while impact reports outline the environmental benefits of the expenditures and related social impacts where data is available.

  • In November 2023, the Government of Canada updated its Green Bond Framework to make certain nuclear expenditures eligible, in line with the government’s position that nuclear power is a vital, clean technology for Canada’s path to net-zero emissions by 2050, as well as to align with updated taxonomies, international best practices, and evolving investor preferences. Canada is the first sovereign borrower to include certain nuclear expenditures in a green bond, demonstrating Canada’s commitment to being a global leader in clean nuclear power.

  • Canada’s Green Bond Framework is aligned with the green bond frameworks of other sovereign issuers that have been widely accepted by green bond investors and market indices. Other sovereign green bond issuers include France, Germany, Sweden, Spain, Italy, and the United Kingdom.

Associated links

Contacts

Media may contact:

Media Relations
Department of Finance Canada
mediare@fin.gc.ca
613-369-4000

General enquiries

Phone: 1-833-712-2292
TTY: 613-369-3230
E-mail: financepublic-financepublique@fin.gc.ca

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2025-10-08