Singapore releases green bond framework ahead of first sovereign green bond

Singapore's government has released a green bond framework as it prepares to issue its first sovereign green bond. The framework looks to align with recommendations in the International Capital Market Association (ICMA) Green Bond Principles 2021 and the ASEAN Capital Markets Forum Green Bond Standards 2018. It focuses on transparency surrounding the use of proceeds from the issuance with impact assessments and allocation reporting. The government will also adopt a screening process to ensure that the projects receiving capital from the proceeds meet minimum criteria. The Singapore government has confirmed that the country’s public sector will issue up to S$35bn (£21bn) of green bonds by 2030.