S$25.8 Billion: The Public Sector Green Bond Tally
As of 31 March 2026, Singapore’s public sector has issued a total of S$25.8 billion (approximately US$20.2 billion) in green bonds across four categories: clean transportation, green buildings, waste management, and sustainable water and wastewater management.
The Singapore Government remains on track to meet its public sector green bond issuance target of S$35 billion by 2030.
The Breakdown by Issuer and Category
The Singapore Government and Monetary Authority of Singapore have issued S$12.0 billion for clean transportation. The Housing & Development Board has issued S$10.5 billion for green buildings. The National Environment Agency has issued S$1.7 billion for waste management. The Public Utilities Board has issued S$1.6 billion for sustainable water and wastewater management.
The 20-Year Sovereign Green Bond
In July 2026, Singapore launched its first 20-year sovereign green bond, seeking to raise between S$2.1 billion and S$2.6 billion (US$1.63 billion to US$2.02 billion) to finance long-term sustainable infrastructure including clean transport, renewable energy, and energy-efficient buildings. DBS, Deutsche Bank, HSBC, OCBC, and Standard Chartered were appointed to arrange the bond.
What the Proceeds Fund
The FY2025 Green Bond Report details proceeds allocated to the Jurong Region Line and Cross Island Line—two mass rapid transit projects under Singapore’s clean transportation category. A limited assurance engagement was conducted by PricewaterhouseCoopers LLP on the allocation of proceeds for the financial year ended 31 March 2026.