• Bonds of any currency with a pre-issuance external review done to demonstrate alignment with any internationally-recognised green, social, sustainability, sustainability-linked and transition principles, standards or guidance.

• Green, social, sustainability, sustainability-linked or transition bonds issued and listed in Singapore as well as included under the Singapore Exchange Sustainable Fixed Income Initiative.

a. For sustainability-linked bonds, there must be post-issuance external review or reporting done annually for the first 3 years or up till the tenure of the bond, whichever is earlier.

b. For transition bonds, there must be a developed and publicly disclosed entity-level transition plan and the use of proceeds from the issuance should demonstrate alignment with the transition category under the Singapore Asia Taxonomy or any other internationally-recognised taxonomies with equivalent transition categories.

• Minimum size of S$200 million or a bond programme size of at least S$200 million with an initial issuance of at least S$20 million.

• Minimum tenure of 1 year.

• Pre-issuance external review, post-issuance external review or reporting work as well as the taxonomy alignment external review is performed by external reviewers in Singapore. 

• Part of the sustainability advisory and assessment work performed by financial institutions in Singapore.

Costs incurred in respect of the independent external review done based on any internationally-recognised green, social, sustainability, sustainability-linked or transition bond principles, standards or guidance.

a. Pre-issuance external review done which demonstrated alignment with any internationally-recognised green, social, sustainability, sustainability-linked and transition bond principles, standards or guidance.

b. Post-issuance external review or reporting for allocation and impact done annually for the first 3 years or up till the tenure of the bond, whichever is earlier.

c. Taxonomy alignment external review done with demonstrated alignment with Singapore-Asia Taxonomy or any other internationally-recognised taxonomies.