TransLink Gives Green Light to Green Bonds

October 09, 2018

Investment option aligns with transit agency’s ambitious environmental goals

NEW WESTMINSTER, BC — TransLink’s Board of Directors has given the “green light” to issue Green Bonds as one way to finance the largest expansion to transit service in our region’s history.

“Green Bonds are a natural fit for TransLink,” said TransLink Board Chair Lorraine Cunningham. “We are the fastest-growing transit authority in North America. We have ambitious environmental goals. Our ridership is growing rapidly and we have big plans for the future, making us an attractive option for investors seeking an investment with strong, green credentials.”

TransLink will be the first transit agency in Canada to issue Green Bonds. TransLink has raised funds directly through Canadian debt capital markets (conventional bonds) to finance projects since 2010.

Most bond-funded projects since 2010 have been environmentally friendly. A Green Bond project will have the added requirement to meet our Green Bond Framework, as certified by independent assurance provider Sustainalytics. Demand for Green Bonds is currently high in the investment community.

Benefits of Green Bonds

  • Aligns with TransLink’s commitment to sustainability
  • High demand among investors
  • Diversifies TransLink’s investor base
  • Brings more accountability and validation to TransLink projects

Pursuing Green Bonds is about aligning with TransLink’s commitment to sustainability. Last week, the TransLink Board approved a plan to reduce greenhouse gas emissions by 80 per cent and to use 100 per cent renewable energy by 2050.

“Vancouver is the fastest-growing low-carbon economy in Canada and a North American innovation hub,” said Vancouver Economic Commission CEO Catherine Warren. “Today’s pioneering infrastructure leaders understand it is critical to link investment and sustainability from the get-go and to inspire investors with environmentally, socially and fiscally friendly opportunities for prosperity.”  

With the Board’s decision, the South Coast British Columbia Transportation Authority (TransLink) has mandated RBC Capital Markets and TD Securities Inc. as Joint Lead Managers for its inaugural Green Bond transaction. This will launch in mid-November, subject to market conditions.

Learn More:

Media contact:

TransLink Media Relations

C: (778) 375-7788

E: media@translink.ca  

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