BNY Mellon today announced its recent fiscal agency appointment on a ten-year C$1.5 billion green bond issued by Canada Pension Plan Investment Board (CPPIB). CPPIB, which invests in assets for one of the world’s largest retirement funds, is the first pension fund in the world to issue a green bond. The BNY Trust Company of Canada (BNYTCC) acts as sub-paying agent, issuing and authentication agent, transfer agent, and registrar.
CPPIB has publicly communicated its broad plans to invest more than C$3 billion in renewable energy, sustainable water and waste management, and green building projects. It is taking an investment-focused approach to climate change by supporting strong, long-term investments in eligible green assets.
“We are proud to contribute BNY Mellon’s experience in green bonds to support CPPIB’s pioneering effort on this first green bond issuance by a pension fund,” said Dan T. Gosselin, Managing Director, BNYTCC. “CPPIB’s investment goals are also a strong match for our own corporate values.”
In a Fiscal and Paying Agency Agreement, dated September 9, 2016, CPPIB appointed The Bank of New York Mellon and The Bank of New York Mellon, London Branch as fiscal agent, paying agent, transfer agent and calculation agent. The agreement was amended and supplemented on June 15, 2018, adding BNY Trust Company of Canada as sub-paying agent.
Canada Pension Plan Investment Board (CPPIB) is a professional investment management organization that invests the funds not needed by the Canada Pension Plan (CPP) to pay current benefits on behalf of 20 million contributors and beneficiaries. In order to build a diversified portfolio of CPP assets, CPPIB invests in public equities, private equities, real estate, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York City, São Paulo and Sydney, CPPIB is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At March 31, 2018, the CPP Fund totaled C$356.1 billion. For more information about CPPIB, visit www.cppib.com.
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Media Contact:
Peter Gau
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peter.gau@bnymellon.com