2019 Green Bond Impact Report (EDC Investments)

Summary

• In January of 2014, EDC became the first Canadian institution to issue a Green Bond, an issue of USD 300 million.p.3
• Funds raised with the bond issues have financed nearly 30 transactions.p.3
• As much as 4,153,953 tonnes of CO2 emissions are anticipated to be avoided annually as a result of these investments.p.3
• Green Bond 2 (US$300 MM) is estimated to avoid approximately 1.861 million metric tonnes of CO2-equivalent annually, equal to taking about 395,125 passenger vehicles off the road.p.8
• Green Bond 3 (US$500 MM, coupon 1.630%) is estimated to avoid approximately 0.266 million metric tonnes of CO2-equivalent annually.p.9
• The 332-megawatt Nordsee One offshore wind farm has 54 turbines and is expected to power about 400,000 German households annually.p.5
• London Array has 175 turbines with a combined capacity of 630MW and reduces CO2 emissions by more than 925,000 tonnes annually.p.6

Key insights

1. Two further issues followed the first: USD 300 million in December 2015 and USD 500 million in June 2017.p.3
2. The Gold Coast light rail network comprises two stages spanning 13.0 kilometres and 7.3 kilometres.p.4
3. Nordsee One is owned by Northland Power (85%), Innogy (13.5%) and Enova (1.5%).p.5
4. MapleCo is contributing to the UK smart meter rollout by purchasing and installing up to 2.7 million smart gas and electricity meters for SSE.p.7
5. Green Bond 2 priced on 8 December 2015 with a coupon of 1.250%, paid semi-annually.p.8
6. Renewable energy assets account for 1.848 million metric tonnes, or 99.3% of the total, of GHGs avoided under Green Bond 2.p.8