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The Government of Ontario is planning a $34-billion bond to help fund public transit.
The Government of Ontario is planning a $34-billion bond to help fund public transit.
(Kevin Van Paassen/The Globe and Mail)

TD: Green bonds can work, but not greenwashed ones

There is a budding market for green bonds, the new financing vehicle the Ontario government is depending on to raise money for transit, but investors are not going to cast aside returns for a feel-good factor.

That’s one conclusion of a new report from the economics team at Toronto-Dominion Bank, which looked at the nascent market for bonds issued to finance “green” environmental projects.