MAS’ Sustainable Bond Grant Scheme (SBGS) offsets up to S$100,000 of additional expenses for external reviews of eligible green, social, sustainability and sustainability-linked bonds and promotes the adoption of internationally accepted standards. The grant is valid till 31 May 2023.
Grant Details
The details of the scheme are as follows:
| Grant Criteria |
Details |
| Qualifying issuer |
First time and repeat green, social, sustainability and sustainability-linked bonds. Issuers may apply for the grant multiple times. |
| 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 bond issued and listed in Singapore. 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.
• 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.
|
| 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.
|
| Per-issuance cap |
Cap of $100,000 or 100% of the eligible expense per qualifying issuance. |
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.