This motion, in calling for the creation of Green Bonds, would create new policy.
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.
THEREFORE BE IT RESOLVED THAT the Green Party of Canada supports the creation of a program to issue Green Bonds defined as a government-backed financial instrument designed to engage the public by raising capital to accelerate renewable energy production.
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