Climate Finance in Ontario: Can Debt Financing Be Green?

Municipalities are crucial stakeholders in climate change. They are a major source of greenhouse gas emissions and, due to their higher building and population densities, will also bear the brunt of the economic and social costs imposed by extreme weather events. Can Ontario municipalities rely on debt financing mechanisms to pay for critical mitigation and adaptation projects? Can debt financing be “green”? On June 21, IMFG post-doctoral fellow Gustavo Carvalho presented on climate financing in Ontario cities, looking at financial instruments and strategies that have been successfully implemented elsewhere, with a focus on green bonds, environmental impact bonds, and green banks.