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EDC issues its first Green Bond

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by Dcn News Services

Export Development Canada (EDC) has priced its first Green Bond in the principal amount of US$300 million, reflecting EDC’s commitment to the environmental aspects of its Corporate Social Responsibility principles.

OTTAWA

Export Development Canada (EDC) has priced its first Green Bond in the principal amount of US$300 million, reflecting EDC’s commitment to the environmental aspects of its Corporate Social Responsibility principles.

EDC’s current portfolio of green assets includes loans made to companies who are active in fields of preservation, protection or remediation of air, water, and/or soil, or the mitigation of climate change.

The Centre for International Climate and Environmental Research, an independent research centre associated with the University of Oslo in Norway, endorsed EDC’s Green Bond Framework.

“EDC’s Green Bond program is an area where the interests of investors and EDC converge, one that we’re looking to develop and grow into a regular part of our funding program,” said Ken Kember, senior vice-president, finance, and chief financial officer. “The Green Bond is a nice balance to EDC’s corporate focus on clean technology, an area that will feed new Green Bond issues in years to come.”

Examples of the transactions and projects related to EDC’s Green Bond program include:

—Industrias Metalurgicas Pescarmona, renewable energy sector, Argentina;

—Cascades Inc., recycling and recovery sector, United States; and

—Noble Environmental Power, renewable energy sector, United States.

EDC is Canada’s export credit agency, providing financing and insurance solutions locally and around the world to help Canadian companies of any size respond to international business opportunities.

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