Green Bonds

WHEREAS the limiting factor for large scale deployment of utility scale renewable power is capital and the cost of that capital;

WHEREAS Green Bonds directly involve the Canadian public in a positive way on the climate change issue;

WHEREAS In a recent poll conducted by Nanos Research, 81.8% of Canadians support the Green Bond initiative and 62.2% say they would purchase Green Bonds with an interest rate similar to a Canada Savings Bond;

WHEREAS Green Bonds would contribute to the broader goal for 2050 and the interim goal set for 2020 for Carbon reduction by addressing a significant temporary market gap and accelerating deployment of low-carbon technology with Ancillary benefits of job creation and economic competitiveness;

WHEREAS This policy leverages the resources, creativity and incentives of the private sector in managing the funds raised;

WHEREAS the efficiency, measured as the cost to government per unit of C02 reduction, compares very favorably to other initiatives such as tax credits and direct subsidies;

WHEREAS this policy complements the larger regulatory framework of a long-term carbon emission price signal.