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The Nicolas-Riou wind farm. Photo by: Business Wire.
June 11 (Renewables Now) - Canada Pension Plan Investment Board (CPPIB) intends to issue its inaugural green bond and thus become the first pension fund to do so, it announced on Monday.
The company did not disclose the size of the offering but pointed out it had announced plans over the past year to spend over CAD 3 billion (USD 2.3bn/EUR 1.95bn) on renewable energy assets. The proceeds from the issue will go towards investments in wind and solar projects, sustainable water and wastewater management developments and green buildings.
“The capital raised will help support strong, long-term investments in eligible green assets that position the Fund for continued success,” said Poul Winslow, senior managing director and global head of capital markets and factor investing.
CPPIB said that any green bond offerings in Canada will be implemented on a private placement basis only to certain qualified accredited investors.
(CAD 1.0 = USD 0.769/EUR 0.651)
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