Ontario to issue ‘green bonds’ to help fund public transit expansion
http://www.thespec.com/news-story/418220...s-to-help-fund-public-transit-expansion/
TORONTO Premier Kathleen Wynne says the Ontario government will issue so-called green bonds next year to help fund public transit expansion.
Wynne says the program will be unveiled in next week's fall economic update, and will allow people to invest in Ontario's future.
It's the first of the so-called revenue tools Wynne has promised to help raise the billions of dollars needed to expand public transit in the heavily congested Toronto-to-Hamilton corridor.
Wynne says green bonds are a great tool to raise capital for projects with specific environmental benefits.
She says the global market for green bonds doubled in the past year to US$346 billion.
Finance Minister Charles Sousa says the green bond program will help to fix Ontario with fixed returns.