Green Bond Fact Sheet

This fact sheet details a CAD 500 million green bond issued by Granite REIT Holdings on June 4, 2020, marking the first green bond issued by a Canadian Real Estate Investment Trust (REIT).

• Granite REIT Holdings issued a senior unsecured green bond on June 4, 2020, with a total amount of CAD 500 million (USD 384 million) and a maturity date of June 4, 2027.
• The bond is the first issued by a Canadian REIT. The Climate Bonds Initiative notes that the framework is unusually broad for REITs, which typically limit their focus to renewable energy or green buildings.
• Proceeds from the bond are allocated across six eligible categories: Green buildings (including LEED Silver, Gold, or Platinum certifications), Resource Efficiency and Management (such as LED lighting and cool roofs), Clean Transportation (electric vehicle infrastructure), Renewable Energy (wind, solar, or geothermal), Pollution Prevention and Control (soil remediation and waste diversion), and Biodiversity and Conservation (tree planting and ecological restoration).
• Granite REIT Holdings has committed to annual allocation and impact reporting until all funds are allocated. Allocation reports will list eligible projects and unallocated balances, while impact reports will detail green building certifications and metrics such as annual energy saved, renewable energy generated, and greenhouse gas emissions reduced or avoided.
• The bond has a credit rating of Baa2 from Moody’s and BBB from DBRS, with a yield and coupon both set at 3.062%.

APA

Climate Bonds Initiative (2020). Green Bond Fact Sheet. https://www.climatebonds.net/files/drupal-files/files/2020-06_CA_Granite_REIT_Holdings.pdf

Chicago

Climate Bonds Initiative. Green Bond Fact Sheet. 2020. https://www.climatebonds.net/files/drupal-files/files/2020-06_CA_Granite_REIT_Holdings.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=Green Bond Fact Sheet |date=4 June 2020 |url=https://www.climatebonds.net/files/drupal-files/files/2020-06_CA_Granite_REIT_Holdings.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative2020green, author = {{Climate Bonds Initiative}}, title = {{Green Bond Fact Sheet}}, institution = {Climate Bonds Initiative}, year = {2020}, month = jun, url = {https://www.climatebonds.net/files/drupal-files/files/2020-06_CA_Granite_REIT_Holdings.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }