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RIYADH: Canada will issue its inaugural Canadian-dollar-denominated green bond this week, valued at $5 billion, Bloomberg reported.
The green bond will also be used to finance green infrastructure and nature conservation projects, Canada’s Department of Finance said in a statement.
“That’s a very positive thing that the Canadian government’s green bond framework does not include oil and gas, because that helps to ensure its environmental integrity,” Ben Caldecott, director of the Oxford Sustainable Finance Group at the University of Oxford, said.