The Government of Singapore will launch its first green bond offering this week, kicking off a SGD35bn (USD25bn) multi-year green bond program with an inaugural issuance of at least SGD1.5bn, according to a statement from central bank and financial regulator the Monetary Authority of Singapore (MAS). Proceeds from the offering will be used to support the country’s recently launched sustainable transition strategy, the Singapore Green Plan 2030, with MAS highlighting projects to expand the country’s electric rail network in support of the plan’s goal to increase mass transit share. Singapore has committed to reaching peak emissions around 2030, and has recently announced an acceleration of its ambition to reach net zero emissions by around mid-century, from its prior commitment of halving emissions by 2050 and achieving net zero “as soon as viable in the second half of the century”.

Source: ESGToday