The city will use it to finance its light trail transit capital work that complies with the requirements of Ottawa’s Green Bond Framework. The framework states that investments are green “if they promote environmental sustainability and are part of an effort to mitigate and adapt to the effects of climate change, reduce greenhouse gas emissions and promote the transition to a low-carbon economy.”

The “greenness” of the bond issue was assessed by the city itself to determine whether it qualified as green and met the disclosure requirements of the International Capital Markets Association’s green bond principles. It also got a second opinion by Sustainalytics, a global leader in ESG ratings.

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