The global market for green bonds has grown by over 100 per cent
annually for the last two years, and is expected to reach US$206 billion this year
– an oasis in troubled times for bond markets. On June 13,
2017, Apple Inc. announced that it had raised US$1 billion to
finance renewable energy projects in green bonds in the largest
corporate issuance of green bonds to date. The offering signals that firm's commitment to fighting
climate change.
In Canada, the Government of Ontario remains the leader in green
bonds. Ontario has completed three successful green bond issuances
so far: a $500 million four-year issue in 2014, a $750 million
seven-year issue in 2016 and a $800 million six-year issue in 2017.
Quebec also completed an inaugural $500 million, 30-year issuance
in 2017, with signs of more to come. Canada's Federal
Government may also turn to green bonds to finance
renewable energy projects to fulfil a campaign pledge. If it does, it will join France and Poland in
