Investors from Asia and Europe were on the oversubscribed deal, which was managed by Commonwealth Bank of Australia, Deutsche Bank, NAB, UBS and Westpac. Proceeds will be used for projects such as hydrogen hubs.
The regional leader in green bonds will keep looking at labelling and internationally aligned standards, such as the common ground taxonomy with the EU, experts discussed at ICMA's inaugural summit. Meanwhile transition finance taxonomies are being rolled out in Chinese provinces.
In January, the government of Hong Kong announced Apac’s largest US dollar green bond issuance to date. It has since made headlines with other innovative green bond deals.
The new China-Singapore Green Finance Taskforce is expected to facilitate easier access to green bonds in both markets through stock exchange connections and digital trading.