This week, the Government of Canada successfully re-opened its second Canadian-dollar-denominated green bond, following its initial issuance in February 2024. This $2 billion re-opening of a 10-year bond is part of a commitment to regular green bond issuances.
Today, I will tell you about the new measure our government is taking to build new housing. Minister Jean-Yves Duclos (Minister of Public Services and Procurement) will tell you about the latest additions to the Canada Public Land Bank, a very important program that continues. And after that, Minister Terry Beech (Minister of Citizens’ Services) will tell you about the impact of these measures for Canadians.
Today in Toronto, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, highlighted how the government’s bold mortgage reforms will make it more affordable to buy a home and unlock the dream of homeownership for more Canadians.
The federal government is leading the world with a bold climate plan to grow our economy and reach net-zero emissions by 2050. Achieving this goal will require between $125 billion and $140 billion in investment into Canada every year. As a cornerstone of Canada’s net-zero economic plan, the federal government’s $93 billion suite of major economic tax credits are already available to help attract this investment.
The Government of Canada supports the development of voluntary Made-in-Canada sustainable investment guidelines (otherwise known as a taxonomy) that would categorize investments based on scientifically determined eligibility criteria that are consistent with the goal of reaching net-zero emissions by 2050 and limiting global temperature rise to 1.5°C above pre-industrial levels.
This re-opening follows the successful issuance of a 10-year, $4 billion green bond in February 2024, which saw robust investor demand as demonstrated by a final order book of $7.4 billion. The February issuance is the government’s second green bond, following the successful issuance of Canada’s first 7.5-year, $5 billion green bond in March 2022.
Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, alongside the Honourable Jean-Yves Duclos, Minister of Public Services and Procurement, and the Honourable Terry Beech, Minister of Citizens’ Services, announced significant progress in the federal government’s work to unlock more land in our communities for housing.
The Deputy Prime Minister and Minister of Finance will provide an update on the government’s economic plan. She will be joined by the Minister of Public Services and Procurement, Jean-Yves Duclos, and the Minister of Citizens’ Services, Terry Beech.
Today’s announcement is really what happens when different levels of government, the city and the federal government, work together for the people who we represent.