Sustainable Bond Grant Scheme
MAS' Sustainable Bond Grant Scheme encourages the issuance of green, social and sustainability bonds in Singapore and is open to first-time and repeat issuers. Find out about scheme details, including qualifying criteria, eligible expenses and issuance process.
Green, social and sustainability bonds can help channel capital towards catalysing broader adoption of sustainability practices. Issuing such bonds allows companies to:
- Meet corporate social responsibility (CSR) objectives.
- Diversify their investor base.
- Achieve long-term pricing advantage.
The Sustainable Bond Grant Scheme encourages the issuance of green, social and sustainability bonds in Singapore and is valid till 31 May 2023.
- - Opening Remarks by Mr Benny Chey, Assistant Managing Director, Monetary Authority of Singapore, at the Innovate4Climate, on 4 June 2019
- - Opening Address by Mr Ng Yao Loong, Assistant Managing Director, Monetary Authority of Singapore, at the IFC Green Bonds Asia: Opportunities for Financial Institutions Conference on 7 June 2018
- by Mr Lawrence Wong, Minister for National Development and Second Minister for Finance, at the Investment Management Association of Singapore's 20th Anniversary Conference on 23 March 2017
MAS recognises that issuers of green, social and sustainability bonds may have to bear additional costs, as they engage external reviewers to ascertain their green, social and sustainability bond status.
The details of the scheme are as follows:
|Qualifying issuer||First time and repeat green, social and sustainability bonds. Issuers may apply for the grant multiple times.|
|Qualifying issuance||• Bonds of any currency with an external review or rating done to demonstrate alignment with internationally-recognised green/social/sustainability bond principles or framework.
• Green, social or sustainability bond issued and listed in Singapore.
• Minimum size of $200 million or a bond programme size of at least $200 million with an initial issuance of at least $20 million.
• Minimum tenure of 1 year.
|Eligible expense||Costs incurred in respect of the independent external review or rating done based on any internationally-recognised green/social/sustainability bond principles or framework.|
|Per-issuance cap||Cap of $100,000 or 100% of the eligible expense per qualifying issuance.|
How to Apply
Applicants of Sustainable Bond Grant should submit their applications no later than 3 months after the issue date.