MAS' Sustainable Bond Grant Scheme (SBGS) offsets up to S$125,000 for eligible green, social, sustainability, sustainability-linked, sustainability-linked loan, and transition bonds. The grant is valid till 31 December 2028.
Grant Details
The details of the scheme are as follows:
| Grant Criteria |
Details |
| Qualifying issuer |
Companies or financial institutions based onshore or offshore. Issuers may apply for the grant for up to 2 instruments. |
| Qualifying issuance |
- Bonds of any currency with a pre-issuance external review or rating done to demonstrate alignment with any internationally-recognised green, social, sustainability and sustainability-linked principles or standards.
- Green, social, sustainability or sustainability-linked, sustainability-linked loan, and transition bond issued and listed in Singapore. For sustainability-linked bonds, there must be post-issuance external reviews or reporting done annually for the first 3 years or up till the tenure of the bond, whichever is earlier. For transition bonds, the issuer must have developed and publicly disclosed an entity-level plan, where the use of proceeds of the bond are aligned with the transition category under the Singapore-Asia Taxonomy or any other internationally recognized taxonomies with equivalent transition categories.
- Included under the SGX Sustainable Fixed Income Initiative.
- Declared itself to be a Qualifying Debt Security.
- 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.
- Pre-issuance external review or rating and post-issuance external review or reporting work performed by external reviewers in Singapore.
- Part of the sustainability advisory and assessment work performed by financial institutions in Singapore, if any.
|
| 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.
- Pre-issuance external review or rating done which demonstrated alignment with any internationally-recognised green, social, sustainability and sustainability-linked bond principles or standards.
- Post-issuance external review or reporting for allocation and reporting done annually for the first 3 years or up till the tenure of the bond, whichever is earlier.
- Taxonomy alignment external review done which demonstrate alignment with Singapore-Asia Taxonomy or any other internationally-recognised taxonomies.
|
| Per-issuance cap |
- Eligible expenses are funded at 100% per qualifying issuance, subject to a cap of S$125,000 if the issuer complies with any internationally-recognised disclosure standards1, or a cap of S$100,000 if they do not.
|
| 1Such as, but not limited to, Task Force on Climate-related Financial Disclosures (“TCFD”), International Sustainability Standards Board (“ISSB”), and European Sustainability Reporting Standards (“ESRS”). |
How to Apply
Interested parties can write to fsdf@mas.gov.sg for more information.
Applicants of Sustainable Bond Grant should submit their applications no later than 3 months after the issue date.