Fix Our Schools would like Kathleen Wynne’s government to consider issuing bonds to fund investment in fixing and rebuilding Ontario’s publicly funded schools – much like how the province has been issuing Green Bonds to fund environmentally friendly infrastructure.
According to the February 3, 2017 news release from Ontario’s provincial government entitled, “Green Bond Proceeds to Fund Environmentally Friendly Infrastructure Projects”:
Ontario has successfully issued its third green bond, raising $800 million to help build clean transportation and environmentally friendly infrastructure projects in communities across the province.
Proceeds from the bond will support 12 projects, including:
- St. Joseph’s Healthcare in Hamilton, targeted to achieve LEED® gold-level certification
- ErinoakKids Centre for Treatment and Development in Brampton, Mississauga and Oakville, expected to achieve LEED® silver-level certification
- York VivaNEXT Bus Rapid Transit Expansion in York Region
- GO Transit Regional Express Rail in the Greater Toronto and Hamilton Area
Green bonds help Ontario’s efforts to fight climate change and build on initiatives such as setting a cap on pollution, ending coal-fired electricity generation, and electrifying and improving the province’s commuter rail network.
Building green, environmentally friendly infrastructure is part of Ontario’s plan to create jobs, grow our economy and help people in their everyday lives.
- Pioneered by the World Bank in 2008, green bonds raise capital for projects with specific environmental benefits.
- In 2014, Ontario became the first province in Canada to develop and sell green bonds, encouraging investment in environmentally friendly projects and attracting new investors.
- Ontario is the largest issuer of Canadian dollar green bonds, with three outstanding green issues totalling $2.05 billion.
- On January 26, 2017, Ontario successfully priced a $800 million bond with a maturity date of January 27, 2023.