Green Finance Framework and Reports

Green Finance Framework

As part of our commitment to develop green and sustainable homes, HDB has developed a Green Finance Framework to finance the development of Eligible Green Projects. The framework was first published in February 2022 and last updated in June 2025.

The current framework has been reviewed by DNV Business Assurance Singapore Pte Ltd and is developed in accordance with the following:

1. Green Bond Principles (2021, with June 2022 Appendix 1) by the International Capital Market Association
2. ASEAN Green Bond Standards (2018) by the ASEAN Capital Markets Forum
3. Green Loan Principles (2025) by the Loan Market Association, Asia Pacific Loan Market Association and Loan Syndications & Trading Association
4. Singapore-Asia Taxonomy for Sustainable Finance (2023) by the Monetary Authority of Singapore

Green Finance Reports 

Find out the allocation of HDB’s green bond proceeds towards Eligible Green Projects and the environmental impact of the projects in our Green Finance Report, and the Second Party Opinion Report by S&P Global Ratings.