Green bonds provide CPP Investments with additional funding as we pursue acquisitions of attractive long-term investments that will accelerate the energy transition to a lower-carbon economy. In 2018, CPP Investments became the first pension fund manager to issue a green bond.
Why we issue green bonds
The need to transition towards a lower-carbon economy presents opportunities in emerging technologies, renewable energy and carbon reduction in conventional industries. CPP Investments is a significant equity investor in many of these technologies and industries. Investing in our Green Bond Program provides lenders exposure to these investments.
By holding ourselves to the highest standards of issuance and reporting we add value to our contributors and beneficiaries, our green investments and the broader green bond market.
About our Green Bond Program
CPP Investments has issued green bonds in AUD, CAD, EUR and USD. Four benchmark issuances, one re-opening and three private placements totalling in excess of C$6.8 billion since inception have provided our global investor base an opportunity to participate in the transition to a low-carbon economy. Currently, there are six outstanding issuances, totalling in excess of C$6.2 billion.
Our Sustainable Investing Committee (SIC) determines which projects would be eligible for green bond proceeds in accordance with the Green Bond Framework. The SIC is a cross-departmental committee, chaired by a senior member of the Sustainable Investing group and includes senior members from different teams across the organization.