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ESG

Canada Pension Plan Investment Board to issue green bonds

Canada Pension Plan Investment Board, Toronto, plans to issue green bonds for the first time, confirmed Darryl Konynenbelt, a spokesman the C$356.1 billion ($275.2 billion) pension fund, in an email.

The sale of the bonds will provide CPPIB with additional funding as it plans to increase its holdings in the renewable energy sector and energy-efficient buildings.

"The issuance of green bonds is a logical next step to CPPIB's investment-focused approach to climate change," said Poul Winslow, senior managing director and global head of capital markets and factor investing, in a news release. "The capital raised will help support long-term investments in eligible green assets that position the fund for continued success."

CPPIB plans to invest more than C$3 billion in the renewable energy sector.

Proceeds from the green bonds will go to one of three categories defined by CPPIB: renewable energy (wind and solar); sustainable water and wastewater management; and LEED platinum-certified buildings.