Ontario says it has successfully launched a green bond program, making it the first government in Canada to issue green bonds.

“There was strong demand for Ontario’s first green bond, with orders approaching $2.4 billion from green investors in Canada as well as in the United States, Europe and Asia,” according to a Ministry of Finance press release.

The program will help finance transit and other environmentally friendly infrastructure projects across the province.

The Eglinton Crosstown light-rail transit line has been selected as the green project that will receive funding from the inaugural issue.

The four-year green bond issue was available through Ontario’s current dealer group to Canadian and international institutional investors.

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