The government of Quebec is embracing environmentally friendly investing by adding green bonds to the range of products that Épargne Placements Québec offers, the Quebec finance ministry announced on Thursday.
Starting today, Quebec investors can begin investing in fixed-rate green bonds, which will be used to finance environmentally friendly projects. I
In particular, the Quebec government plans to fund the Réseau express métropolitain, an electrified mass transit project.
The green bonds and the entire range of Épargne Placements Québec’s savings products are offered without management or administration fees, the Quebec government fully guarantees the principal and interest.
“This new savings product offers a safe, flexible, advantageous investment vehicle that will allow Quebecers’ retirement savings to grow while they contribute to the development of a greener Québec,” says Carlos Leitão, Quebec Minister of Finance, in a statement.
As the first province to offer green bonds, Quebec is
“demonstrating its commitment to the development of a responsible financial market that facilitates active participation in financing projects devoted to the environment,” the finance ministry says in a news release.