Municipal green bonds
What does the law say?
In November 2017, through the issuance of a green bond with a yield to investors of 3.25 percent and a maturation date of 2047, the City of Ottawa raised $102 million for its Light Rail Transit Project. Issued under the city’s Green Debenture Framework,1 the bond saved the city approximately $400,000 in interest costs, compared to more conventional bonds2 and marked the first (and currently only) time a Canadian municipality has participated in the rapidly-growing
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