The Environmental Finance Bond Awards celebrate the leading green, social, sustainability and sustainability-linked (GSSS) bond and loan deals in 2022 and recognize market innovations. Scotiabank is proud to be recognized for our participation on five notable transactions:
- Green Bond of the Year – Sovereign: Government of Canada
- Social Bond of the Year – Sovereign: Government of Canada’s Ukraine Sovereignty Bond
- Sustainability Bond of the Year – Corporate: Dream Impact Trust
- Sustainability Bond of the Year – Sovereign: Mexico
- Sustainability Bond of the Year – Supranational: World Bank
7.5 Year Green Bond
Green Bond of the Year – Sovereign: Government of Canada
In March 2022, Scotiabank acted as Joint Bookrunner on the Government of Canada’s inaugural, 7.5-year C$5 billion green bond, the largest single green bond offering denominated in Canadian dollars to date.
5 Year Ukraine Sovereignty Bond
Social Bond of the Year – Sovereign: Government of Canada's Ukraine Sovereignty Bond
Following the Government of Canada’s inaugural green bond issuance in March 2022, Canada returned to the sustainable debt market later in the year.
In November 2022, Scotiabank acted as Joint Bookrunner on Government of Canada’s Ukraine Sovereignty Bond and acted as an advisor to the government throughout the process. The funds will assist the Government of Ukraine so it can continue to provide essential services to Ukrainians, such as pensions, the purchasing of fuel, and restoring energy infrastructure. The deal was for C$500 million, of which C$50 million was from individual Canadians (retail investors) that Scotiabank helped source.
5 Year Sustainability Bond
Sustainability Bond of the Year – Corporate: Dream Impact Trust
In June 2022, Dream Impact Trust issued C$40 million Sustainable Convertible Bond notes, representing the first ESG-labelled convertible bond in the Canadian dollar market. Scotiabank supported the transaction as Joint Bookrunner.
2 & 6 Year SDG Notes
Sole Structuring Agent & Joint Bookrunner
Sustainability Bond of the Year – Sovereign: Mexico
In May 2022, The Republic of Mexico issued two-year and six-year MXN$20 billion ESG Bonds tied to UN Sustainable Development Goals (SDGs). Scotiabank supported the Mexican government’s first peso-denominated ESG bond as Sole Structuring Agent and Joint Bookrunner.
The transaction involved the issuance of Mexico’s first BONDESG, which represent Floating Rate MXN-denominated Development Bonds aligned with Mexico’s Sustainable Development Goal (SDG) Sovereign Bond Framework.
4 & 7 Year Sustainability Bond
Sustainability Bond of the Year – Supranational: World Bank
In September 2022, a dual-tranche sustainability bond issued by the World Bank for US$4.5 billion was the first of its kind in the sovereign, supranational or agency (SSA) market. Scotiabank supported the transaction as a Co-Lead Manager.