Broadening Scope of Sovereign Green Bond Issuances Beyond Financing Nationally Significant Infrastructure

Parliamentary Question by Mr Saktiandi Supaat:

To ask the Prime Minister and Minister for Finance whether the Government plans to broaden the scope of Singapore’s sovereign green bond issuances beyond financing nationally significant infrastructure such as the Cross Island Line and Jurong Region Line to include other categories of projects in line with the updated Singapore Green Bond Framework and the Singapore-Asia Taxonomy for Sustainable Finance.

Parliamentary Reply by Second Minister for Finance, Ms Indranee Rajah:

The Government does not borrow to spend, except for major, long-term infrastructure under the Significant Infrastructure Government Loan Act or SINGA. Any sovereign green bond issuances have to comply with both the Singapore Green Bond Framework and the legislation under SINGA.

The Jurong Region Line and Cross Island Line, which are being financed via our sovereign green bonds, meet both of these criteria. At this point, we do not have any plans for our sovereign green bond issuances to be used for more categories of projects.

Besides sovereign green bonds, the Framework also serves as a reference for our Statutory Boards’ respective green bond frameworks. To date, HDB, NEA and PUB have issued green bonds to finance green buildings, sustainable waste management, and sustainable water and wastewater management respectively.