The potential role for green bonds to accelerate mitigation, adaptation, and innovation goals

Sustainable Prosperity and the Climate Bonds Initiative prepared a joint submission to the Government of Canada's "Let's Talk Climate" consultation process, and to the co-chairs of the federal-provincial-territorial working groups formed under the Vancouver Declaration on Clean Growth and Climate Change. The submission addresses the role that public policy could play to accelerate the use of green bonds as a tool to finance the transition to a stronger, cleaner Canadian economy.

Related Materials:
Click to view the Canadian edition of our Green Bonds 2015 report

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About the Project

The goal of this project is to shed light on the relationship between economic activity and the environment by exploring the linkages between changes in our natural capital and our measures of productivity generally, and through the construction of an environmentally adjusted measure of productivity specifically.

While it is now commonly accepted that economic activity and the state of our environment are linked, many economic measures still fail to incorporate the environment – both the things we draw from it and the pollution we release into it. By developing and calculating measures of productivity that include natural capital, Canada may be able to better understand these linkages. This, in turn, may lead to the identification of strategies that can help Canada become more efficient and innovative in the use and protection of natural capital, and thus more productive and more prosperous.

Using the forestry sector as a case study, this project aims to construct an environmentally adjusted measure of multifactor productivity. In doing so, we aim to add another layer of understanding to the environmental and economic performance of this sector. The proposed measure will have relevance to the Canadian economy as a whole.