BNY Mellon to service Ontario’s green bond
03 February 2015 Toronto
![Generic business image for news article](https://www.assetservicingtimes.com/assetservicesnews/images/TuesdayFebruary320151422960729.jpg)
BNY Mellon has been appointed as fiscal agent, registrar principal paying agent and transfer agent for the Province of Ontario on the issuance of its first green bond.
Proceeds from the bond will be used to finance projects with particular environmental benefits throughout Ontario.
The initial bond of 500 million Canadian dollars will be used to fund the Eglinton Crosstown Light Rail Transit project in Toronto, a system to expand the city’s transport system and reduce congestion.
Sonia Chaliha, head of sales and relationship management for Latin America and Canada at BNY Mellon Corporate Trust, said: "We've seen increasing demand for investment vehicles like green bonds as more investors seek investment options that allow them to build a strategy around their social and environmental values."
She added: "It's been estimated that green bonds may account for 10 to 15 percent of global bond issuance in the next five to seven years. We have numerous environmental, social and governance related offerings and provide our clients with a broad range of services that help mobilise investment capital to drive social progress. Building on our existing capabilities, we are well positioned to support issuers such as the Province of Ontario which use green bonds to finance environmentally friendly projects."
In 2014 BNY Mellon was added to the Dow Jones Sustainability World Index, and secured its place on the Dow Jones Sustainability North America Index for the second year running.
Proceeds from the bond will be used to finance projects with particular environmental benefits throughout Ontario.
The initial bond of 500 million Canadian dollars will be used to fund the Eglinton Crosstown Light Rail Transit project in Toronto, a system to expand the city’s transport system and reduce congestion.
Sonia Chaliha, head of sales and relationship management for Latin America and Canada at BNY Mellon Corporate Trust, said: "We've seen increasing demand for investment vehicles like green bonds as more investors seek investment options that allow them to build a strategy around their social and environmental values."
She added: "It's been estimated that green bonds may account for 10 to 15 percent of global bond issuance in the next five to seven years. We have numerous environmental, social and governance related offerings and provide our clients with a broad range of services that help mobilise investment capital to drive social progress. Building on our existing capabilities, we are well positioned to support issuers such as the Province of Ontario which use green bonds to finance environmentally friendly projects."
In 2014 BNY Mellon was added to the Dow Jones Sustainability World Index, and secured its place on the Dow Jones Sustainability North America Index for the second year running.
NO FEE, NO RISK
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Assegt Servicing Times
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Assegt Servicing Times
![Advertisement](../images/bull-252524.png)