The Government of Canada has successfully completed its fifth issuance of Canadian-dollar-denominated green bonds, raising a total of $2.5 billion. The latest offering included $1 billion in a new 30-year bond and a $1.5 billion re-opening of its 7-year bond first issued in February 2025. The 30-year bond attracted strong investor interest, with 86% of buyers identified as environmentally and socially responsible investors, resulting in an order book exceeding $1.9 billion. The 7-year bond also saw solid demand, reaching an order book of $3.6 billion, with responsible investors accounting for 31% of buyers. In total, nearly half of Canada’s 7-year green bond has now been placed with socially and environmentally conscious investors since its initial issuance.
Canada’s green bond program aims to strengthen the country’s sustainable finance market by providing a sovereign benchmark for ESG investments and mobilizing private capital toward green infrastructure, renewable energy, and nature conservation projects. These initiatives are expected to contribute to economic growth and job creation across Canada, while advancing environmental goals.
With this latest issuance, Canada’s total green bond proceeds have now reached $15.5 billion since the program began in March 2022. The 30-year bond marks a new milestone as the government’s first long-term green bond offering, which was well received by investors. The strong response reflects investor confidence in Canada’s AAA credit rating, sound fiscal management, and commitment to climate action.
In November 2023, Canada updated its Green Bond Framework, expanding eligible categories to include certain nuclear energy expenditures—a first among sovereign issuers. This inclusion aligns with the government’s recognition of nuclear power as a clean technology essential to achieving net-zero emissions by 2050. Canada continues to align its framework with international best practices and evolving investor standards.
To ensure transparency, the government publishes annual Green Bond Allocation and Impact Reports, detailing how proceeds are used and outlining the environmental and social benefits achieved through funded projects. The 2023–24 report, released in June 2025, continues this commitment by tracking measurable outcomes from Canada’s growing green bond portfolio.
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