Task Force: Benjamin Fine, Oliver Madison, Emily Paddon, Tom Rand, Andrew Sniderman
Advisor: Rae Hull
The Green Bonds policy proposal analyzes the benefits to Canada that would emerge from the issuance of a government-backed privately-run financial instrument, designed to both engage the public and accelerate the deployment of renewable energy technologies. Like a Canada Savings Bond, it would be bought by the public ñ the key difference being that the proceeds would be made available as low-cost debt capital to renewable energy producers. Accelerated carbon emission reductions, direct public engagement on the climate change issue and the development of a renewable energy industry are all identified as key benefits of this proposal. The private sector would run the fund, and the governmentís role is limited to backing the bond and reducing the risk to investors. Our analysis indicates that ñ on a cost per tonne of carbon reduction ñ this policy stands head and shoulders above other policy options, with an estimated total cost to government of somewhere between $1 and $13 per tonne. Our team has worked equally on policy development and advocacy and it is fully our intention to have this policy adopted in the 2009 Federal Budget.