Housing and Development Board

Unverified
Website
www.hdb.gov.sg
3 Frameworks

Documents (3)

XFID Type Title Year Source Retrieved
XF-GQZA5VM-H Framework HDB | Green Finance Framework and Reports www.hdb.gov.sg 16 Mar 2026
XF-UE2C065-R Framework GREEN FINANCE REPORT AS AT 31 MARCH 2023 2023 ↑2022 www.hdb.gov.sg 16 Mar 2026
XF-7XDRQ7V-J Framework Green Finance Framework 13 Jan 2022 2022 →2023 www.hdb.gov.sg 16 Mar 2026

XF Company Profile

Extra-financial information found across 3 documents in the XframeworkID registry

NACE L Real Estate Activities

Information extracted from documents in the registry. Values are as disclosed; this is not an assessment or rating. Last updated 2 Jun 2026.

Issuer Identity & Structure

Issuer name and country/jurisdiction
Housing and Development Board, Singapore GREEN FINANCE REPORT 2023
Issuer sector/industry classification
Real Estate Activities GREEN FINANCE REPORT 2023
Issuer organizational structure
Statutory Board GREEN FINANCE REPORT 2023
Core business activities and geographic focus
Public housing provision, sustainable town development, Singapore GREEN FINANCE REPORT 2023

Corporate Strategy & Mission

Corporate mission and sustainability strategy
Provide quality affordable public housing, create vibrant sustainable towns, promote active and cohesive communities, and be a leader in environmental management GREEN FINANCE REPORT 2023

Green / Sustainable Finance Framework

Sustainable bond framework name and version
HDB Green Finance Framework, last updated June 2025 GREEN FINANCE FRAMEWORK AND REPORTS
Framework publication date and update history
First published February 2022, last updated June 2025 GREEN FINANCE FRAMEWORK AND REPORTS
Bond types covered under framework
Green bonds and green loans GREEN FINANCE REPORT 2023
Reporting commitments under framework
Annual Green Finance Reports detailing allocation of bond proceeds and environmental impact GREEN FINANCE FRAMEWORK AND REPORTS

Standards & Regulatory Alignment

Alignment with ICMA Green Bond Principles
Aligned with Green Bond Principles (2021) by ICMA GREEN FINANCE REPORT 2023

External Review & Verification

Assurance provider name and engagement period
Ernst & Young LLP, engaged 18 February 2022 GREEN FINANCE REPORT 2023
Assurance level
Limited assurance GREEN FINANCE REPORT 2023
Assurance scope
Framework alignment with Green Bond Principles and Green Bond Standards GREEN FINANCE REPORT 2023
Second Party Opinion (SPO) provider name and assessment date
S&P Global Ratings (date not specified in documents) GREEN FINANCE FRAMEWORK AND REPORTS
External framework assessment provider
DNV Business Assurance Singapore Pte Ltd GREEN FINANCE FRAMEWORK AND REPORTS

Changes Over Time

Items where disclosed information changed across documents.

Bond types covered under framework
2022 Green bonds
2023 Green bonds and green loans

Document Updates

What changed between successive versions of documents.

2022 2023

HDB's sustainability bond framework evolved from a 2022 Framework document focused on general green finance principles to a 2023 Green Finance Report with more concrete implementation details. The key substantive changes include: (1) explicit integration of multiple Green Finance Transaction types (green bonds and green loans) with formal alignment to international standards; (2) narrowed and clarified eligible project categories from a broader framework to specific Building and Construction Authority (BCA) Green Mark GoldPlus or above certification requirements; and (3) addition of a structured reporting architecture with eligibility registers and detailed project annexes, replacing the original reporting framework structure.

  • expanded Standards Alignment — Added formal alignment to three international standards: Green Bond Principles (2021), Green Bond Standards (2018), and Green Loan Principles (2021), with documented third-party limited assurance from Ernst & Young LLP
  • tightened Use of Proceeds — Narrowed eligible project category to exclusively Green Buildings with BCA Green Mark GoldPlus or above certification, removing broader reference to sustainability categories
  • clarified Eligibility Criteria — Added specific timeline eligibility criteria for projects: must commence either within 24 months prior to GFT issuance or after issuance date
  • expanded Use of Proceeds — Expanded financing scope to include both residential and non-residential HDB projects, with explicit funding for both new development and re-financing of eligible projects
  • expanded Reporting — Added structured reporting components including Green Projects Register, list of eligible projects (Annex A), and detailed project information (Annex B), replacing earlier narrative reporting framework
  • expanded Use of Proceeds — Extended eligible transaction types from green bonds only to multiple Green Finance Transactions including both green bonds and green loans