Use of Proceeds & Reporting
Eligible Projects Use of Proceeds and Reporting
An amount equal to the net proceeds of each bond issue will be recorded in a designated account in the Province of Ontario’s financial records. This designated account will be used to track the use of and allocation of funds to Eligible Projects (as defined below).
While any Green, Social and Sustainability Bond net proceeds remain unallocated, the Province of Ontario will invest these in short-term Government of Canada Treasury bills.
“Eligible Projects” means all projects funded by the Province of Ontario that promote environmentally beneficial outcomes across the Province and mitigate or adapt to the effects of climate change; and/ or projects that promote socially beneficial outcomes across the Province improving the lives of Ontarians; and/or projects that promote a combination of both environmentally and socially beneficial outcomes across the Province.
Without limitation, Eligible Projects may include projects in the following sectors:
- Clean Transportation
- Green Buildings
- Energy Efficiency
- Clean Energy
- Environmentally Sustainable Management of Living Natural Resources and Land Use
- Climate Change Adaptation
- Sustainable Water and Wastewater Management
- Pollution Prevention and Control
- Terrestrial and Aquatic Biodiversity
- Circular Economy, Adapted Products, Production, Technologies and Processes
- Affordable Basic Infrastructure
- Access to Essential Services: Healthcare
- Access to Essential Services: Education and Childcare
- Affordable Housing
- Employment Generation
An annual Newsletter is published reporting on the selected projects, their funding, progress and environmental performance.