Singapore Raises S$2.6 Billion Through 20-Year Green Infrastructure Bond

Singapore has raised S$2.6 billion through its first 20-year sovereign green bond, strengthening the country's green-finance market and providing long-term financing for sustainable infrastructure. The Green Singapore Government Securities (Infrastructure) were priced at a yield of 2.4%, with the issuance forming part of Singapore's broader sovereign green-bond programme.

The bond is issued under the Singapore Green Bond Framework, which sets out the types of projects eligible for green financing. These include renewable energy, energy efficiency, green buildings, clean transportation, sustainable water and wastewater management, pollution prevention and the circular economy, climate adaptation, and biodiversity conservation.

Proceeds from Singapore's sovereign green bonds are being used to finance major long-term infrastructure projects aligned with the Singapore Green Plan 2030. Eligible projects include the Jurong Region Line and Cross Island Line, which form part of Singapore's expansion of sustainable public transportation and are expected to contribute to lower-emission urban mobility.

The latest issuance brings Singapore's sovereign green-bond programme to a significant scale. The Government has indicated that up to S$35 billion in sovereign and public-sector green bonds could be issued by 2030, with the programme intended not only to finance sustainable infrastructure but also to deepen Singapore's green-finance ecosystem.

The 20-year issuance also demonstrates the use of long-term sustainable finance to fund infrastructure with benefits extending across generations. By linking sovereign borrowing to defined environmental eligibility criteria and annual allocation and impact reporting, Singapore is strengthening transparency around how green-finance proceeds contribute to its wider sustainability and climate objectives.

S$2.6 billion of 20-year green-bond issuance from Singapore sets a benchmark for Asian sovereign sustainable-finance and deepens the regional green-bond market for corporates issuing alongside. Our responsible-investment and ESG-strategy teams help issuers and investors evaluate what these benchmark issuances mean for ASEAN green-finance market development.