Overview

In January 2024, Ontario released its Sustainable Bond Framework ("The Framework") replacing the Province of Ontario’s Green Bond Framework developed in 2014. The Framework allows the Province to issue any of Green Bonds, Social Bonds, or Sustainability Bonds (collectively "Sustainable Bonds") when projects include both Green and Social objectives.

The Province has developed the Framework to align with the four core components of the International Capital Market Association (ICMA) Green Bond Principles (GBP), the ICMA Social Bond Principles (SBP) and the ICMA Sustainability Bond Guidelines, taken together, “The Principles”. Additionally, the Framework references alignment with the United Nations Sustainable Development Goals (UN SDGs).

Ontario is currently the largest issuer of Canadian dollar Green Bonds, with seventeen green issues totaling $20.25 billion, of which approximately $18.2 billion is currently outstanding.

Sustainable Bond Framework (2024)

The framework includes Eligible Green and Social projects that may be considered by the Province of Ontario.

• Download Ontario’s Sustainable Bond Framework (PDF)

Q&A's

• Download the Sustainable Bond Framework Q&A's (PDF)

Green Bond Presentation – October 2, 2024

• Download the Green Bond Presentation (PDF) – NEW!

Green Bond Framework (2014)

This framework was developed in 2014 and remained in use until December 2023. The last bond issued under this framework was the Province’s fourteenth Green Bond

• Download Ontario's Green Bond Framework (PDF)